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NYC Mayor Eric Adams Is Creating a Crypto Advisory Council
"We want to use technology of tomorrow to better serve New Yorkers today," said the mayor at a summit on Tuesday.
Updated May 20, 2025, 9:26 p.m. Published May 20, 2025, 7:38 p.m.
What to know:
- A digital assets advisory council is coming to New York City, said Mayor Adams at a Tuesday summit.
- "We have experts right here, and they are going to help us navigate solutions that serve our city," he said.
NEW YORK — The city of New York is launching a digital assets advisory council to bring fintech jobs into the Big Apple, Mayor Eric Adams announced Tuesday.
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New York City is "open for business, he said at the start of a summit hosted at the mayor's official residence, Gracie Mansion. The council will be composed of individuals from the industry, with a chair to be announced in the coming weeks.
"We want to use technology of tomorrow to better serve New Yorkers today," Adams said in his opening remarks. "We have experts right here, and they are going to help us navigate solutions that serve our city. We are lucky to have this type of human capital right here in the city of New York."
The summit, which included a public press conference followed by closed-door roundtables, had participants from both family offices and unicorn startups, said Richard Hecker of Traction and Scale, a logistics firm involved in the event.
Business interests aside, the city will explore putting birth and death records onto a blockchain to help New Yorkers' next of kin easily access these types of documents, Adams said.
Andrew Durgee, the co-CEO of Republic, which backs other startups financially, noted that his firm remained in New York despite concerns about regulators and other issues, even as other firms left the country.
"Now the first time in 15 years, we're in this scenario, we have no idea what it's going to look like," Durgee said. "You have now all these people, these smart, brilliant people now coming back to the U.S., and they're looking for a place to land."
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Yang perlu diketahui:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Canadian Province Wins Forfeiture of $1M QuadrigaCX Co-Founder's Cash & Gold via Default Judgment
The ruling transfers cash, gold bars, watches, and jewelry seized from a CIBC safety deposit box and bank account into government hands after Patryn did not defend the case.
Yang perlu diketahui:
- The Supreme Court of British Columbia has forfeited $1 million in cash and gold tied to QuadrigaCX's co-founder, Michael Patryn, to the government.
- Patryn did not contest the forfeiture, which involved 45 gold bars, luxury watches, and over $250,000 in cash seized under an Unexplained Wealth Order.
- The forfeiture may lead to a process determining if any assets can be directed to QuadrigaCX's creditors, who received 13 cents on the dollar in the bankruptcy settlement.
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