Pro-crypto NYC Mayor Eric Adams ends re-election bid

New York City Mayor Eric Adams, known for his pro-cryptocurrency stance, has announced he is ending his re-election campaign, The Block reported. Adams cited a failure to secure campaign funds and persistent speculative media coverage as the reasons for his decision. He has been a prominent pro-crypto figure, having accepted his first three paychecks in Bitcoin at the start of his term and hosting the city's first-ever cryptocurrency summit. Adams had previously stated that New York City is open to crypto, blockchain, Web3, and fintech firms, and argued for abolishing regulatory licenses for virtual asset businesses to foster an environment where Bitcoin could be traded freely.