Important Highlights
- Adams did not search for a reunion in 2025, except for the leadership gap in NYC’s Crypto Vision.
- Their exit suspects whether the city will continue to grow towards a crypto-friendly future.
- No pro-crypto candidates are currently leading the race.
Adams is Out, So What Happens to NYC’s Crypto Future?
Eric Adams is out. The New York City mayor announced he’s ending his 2025 reelection campaign, and whether you liked his policies or not, one thing’s certain: he was one of the loudest voices in local government pushing for a future built, in part, on cryptocurrency.
With Adams stepping aside, there’s a growing sense that the city’s once-bold crypto future is now very much in question.
Adams Actually Tried to Make Crypto Work in NYC
Say what you want about Adams, but he didn’t just talk the talk when it came to crypto he tried to make real moves.
He took his first paycheck in Bitcoin and Ethereum. He talked about making New York the “global center” for blockchain.
He pitched a Bitcoin bond. He wanted to overhaul New York’s strict BitLicense rules which many in the industry say drive innovation out of the state.
He even proposed a digital advisory council to attract crypto firms and jobs. Not everything landed, of course. Some of his proposals like the Bitcoin bond were shut down by city officials who said they weren’t financially sound.
But Adams stayed committed. In a time when most politicians wouldn’t touch crypto with a ten-foot pole, he leaned in. And now? That vision for NYC’s crypto future is suddenly up in the air.
Why He’s Leaving, And Why It Matters
In a video posted on X (formerly Twitter), Adams explained that ongoing legal issues and blocked campaign funding forced his hand.
“Despite all that we’ve achieved,” he said, “I cannot continue my reelection campaign.”
The federal bribery case hanging over his administration even though dismissed clearly took a toll.
So did the city’s campaign finance board deciding to withhold millions in public funding. It left Adams without the resources to run a serious campaign.
He says he’s not done serving New York. But with him out of the race, his role in shaping the city’s crypto future will soon come to an end.
Who’s Stepping In? Right Now, No One on Team Crypto
Here’s what’s making people nervous: none of the leading candidates seem all that interested in picking up Adams’ crypto playbook.
Democratic Socialist Zohran Mamdani is currently the frontrunner. He’s built support with a focus on housing and public services but so far, he hasn’t said a word about blockchain, crypto, or digital assets.
The industry doesn’t know what to expect from him, and that uncertainty isn’t exactly comforting.
Former Governor Andrew Cuomo is also in the mix.
He once worked as a paid adviser to a crypto firm (OKX), but his broader stance on crypto leans heavily toward regulation.
He’s not hostile but he’s not exactly shouting “Web3” from the rooftops either. With Adams gone, NYC’s crypto future is now waiting for a new champion.
Why does this moment look so important
For the past few years, Adams gave crypto a voice at the city level. He opened doors, encouraged conversations, and at least tried to position New York as a place where digital finance could thrive.
Sure, not every initiative worked out. But at least crypto had a seat at the table. Now, that seat’s empty. And the next mayor could either bring crypto deeper into the city’s economy or quietly pull back and shift focus elsewhere.
That’s a big deal. Because while New York still holds massive financial influence, it’s also in a quiet competition with cities like Miami, Austin, and even London when it comes to attracting Web3 startups and investment.
If the next administration doesn’t take crypto seriously, NYC could find itself playing catch-up.
