NYC Mayor Criticizes Memecoins Ahead of Crypto Summit
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New York City Mayor Eric Adams has taken a firm stance against the influence of meme culture on the cryptocurrency space, emphasizing long-term technological value over fleeting trends. "We are focused on the long-term values of these technologies for our city and its people, not chasing memes or trends," Adams declared during a press conference.
The mayor unveiled new partnerships with financial firms to solidify New York’s position as a digital asset hub. A key initiative is the upcoming New York crypto Summit on May 20, designed to foster innovation and address financial inclusion through blockchain technology. Adams highlighted the potential for crypto to serve the city’s underbanked populations.
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