New York’s Crypto-Friendly Mayor Eric Adams Ends Re-Election Bid Amid Legal and Financial Challenges

New York Mayor Eric Adams has abruptly terminated his campaign for a second term, citing crippling financial constraints and persistent legal scrutiny. The city Campaign Finance Board’s decision to withhold matching funds dealt a fatal blow to his fundraising efforts, while unresolved indictments from 2024—though later dropped—cast a long shadow over his political viability.

Adams, a vocal advocate for cryptocurrency adoption, will remain in office until January 2026. His departure raises questions about the future of pro-crypto policies in New York, where he previously championed blockchain initiatives and sought to position the city as a hub for digital asset innovation.

The mayor’s exit underscores the volatile intersection of politics and emerging technologies. With polls showing declining support and donor hesitancy, Adams framed his withdrawal as inevitable: "Only in America. Only in New York," he tweeted, alluding to the unique pressures of governing the financial capital.