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NYC’s Bitcoin Bond Gamble: Comptroller Calls Adams’ Crypto Play ’Reckless’
NYC’s Bitcoin Bond Gamble: Comptroller Calls Adams’ Crypto Play ’Reckless’
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New York City’s financial watchdog isn’t mincing words—Mayor Eric Adams’ plan to issue Bitcoin-backed bonds just got branded a fiscal dumpster fire.
The comptroller’s office slammed the proposal as a ’speculative gamble with taxpayer money,’ arguing crypto volatility could leave the city holding the bag. Meanwhile, Wall Street bankers are probably placing bets on how fast this’ll go sideways.
Adams—who famously took his first paycheck in Bitcoin—is doubling down on making NYC a crypto hub. But with regulators circling and markets swinging, this bond play might be more political theater than sound finance.
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