New York City’s plans to position itself as a crypto hub face uncertainty after Mayor Eric Adams announced on Sunday that he will not seek re-election.
In a video message posted on X, Adams said financial pressures, including legal costs from his dismissed federal bribery case and frozen public funds, had forced him to end his campaign.
“Although this is the end of my re-election campaign, it’s not the end of my public service. I will continue to fight for this city.”
Eric Adams
Adams, who first won office in 2022 on a public safety agenda during the pandemic recovery, has been credited with lowering crime rates and supporting economic growth. Still, a series of scandals has continued to weigh on his leadership.
