NYC Mayor Eric Adams Criticizes Meme Culture in Crypto, While Promoting Long-term Value and Partnerships

New York City Mayor Eric Adams has recently criticized the impact meme culture has on the crypto space.

New York City Mayor Eric Adams is known for his pro-crypto stance and has been vocal about positioning the city as a major blockchain hub. In a recent statement, Adams expressed his focus on the long-term values of crypto technologies for the city and its people, urging them to avoid chasing short-term trends or memes.

“We are focused on the long-term values of these technologies for our city and its people, not chasing memes or trends,” Adams said.

Mayor to Host Crypto Summit on May 20

The mayor also announced new partnerships with financial firms to boost the city’s role in digital assets.

“Together, we’re going to shape the city’s crypto strategy to ensure that we remain a hub for innovation in Web3 and a leader in this emerging and critical sector,” he added.

Adams discussed the potential for crypto and blockchain to improve financial access for the city’s underbanked population.

In April, Adams revealed that New York City would hold its crypto summit on May 20, which aims to drive innovation and growth in the city’s blockchain sector.

The summit will bring together leading figures from the crypto industry to discuss the latest trends and opportunities in blockchain technology.

Mayor Adams also announced new partnerships to guide the city’s digital asset strategy. From startups to major players, he aims to create a business-friendly environment where they can thrive.

Despite his skepticism about memecoins, Adams reaffirmed his support for crypto, reminding everyone that he was the first U.S. mayor to take his first paychecks in Bitcoin and Ether.

His goal is to make New York City the undisputed global capital of crypto.

Altcoins and Memecoin See Wild Rally

In other news, altcoins have been surging in a broader crypto rally, while memecoins have also seen a sharp rebound.

The CMC Altcoin Season Index has soared to 35, hinting at a possible altseason on the horizon.

Altcoin Season is making a huge comeback. Don't get fooled here! 😉

Next 3-6 months will be LIFE-CHANGING for those who play smart and stay informed.

Get ready for daily gains of up to 40% in major altcoins. Stay tuned for updates and follow for more market analysis! 📈 #crypto #altcoins #bitcoin $BTC

— Mister Crypto (@MisterCrypto_) May 11, 2024

Major altcoins have posted strong weekly gains, with Ethereum leading the pack at 39.9%. XRP, Solana, and Cardano followed closely, gaining around 21%.

Memecoins have also performed exceptionally well, with Dogwifhat surging 119%, Dogecoin rising 37%, and Brett increasing by 63%. Bonk and Mog Coin also saw impressive gains of 37% and 84%, respectively, in the past week.

Coinpedia Markets has shared a list of memecoins that could offer 10-100x potential in Bullrun 2025.

The tokens include Dogwifhat ($WIF), Degen ($DEGEN), Brett ($BRETT), and Mubarak (#MUBARAK).

Mog Coin ($MOG), Snek ($SNEK), Ski Mask Dog ($SKI), Kendu Inu ($KENDU), Osaka Protocol ($OSAK), and Bobo ($BOBO) are also included in the selection.