NYC mayor Eric Adams did not report crypto holdings in disclosure form

New York City Mayor Eric Adams It said pledge to correct His annual financial disclosure form It was filed with the Board for Conflicts of Interest, after it failed to report its cryptocurrency holdings.

When asked if he held any securities, including stocks, bonds, ETFs, mutual funds, or cryptocurrencies with a market value of $1,000 or more, the mayor answered “no” in his filing. A spokesperson for the mayor told the Daily News on Thursday that Adams overlooked his stakes in bitcoin and etherbecause he misunderstood the question and thought it only referred to securities.

Two of the mayor’s top aides have revealed the exact amount of their bitcoin and ether holdings.

The mayor’s office did not immediately respond to CNBC’s request for comment outside of business hours. It is unclear how much Adams’ crypto holdings are worth.

The mayor was quick to embrace cryptocurrency in 2021 when he was the talk of winning the election bitcoin He was racing toward his all-time high of nearly $70,000 for a coin. Since then, the world’s largest cryptocurrency has fallen to trade around $31,500 amid the broader downturn in the digital asset market.

in November 2021Adams said he plans to accept the first three mayor’s salaries in bitcoin. Even as the sector descends into the depths of crypto winter in 2022, Adams remains bullish on cryptocurrencies, he tells the press He has kept his investment in cryptocurrency.

Adams’ pro-cryptocurrency platform was part of the politician’s effort to give Miami a run for its money as one of the top destinations in the country for industry enthusiasts.

Miami Mayor Francis Suarez’s progressive crypto policies have drawn start-ups, venture firms and cryptocurrency exchanges to Florida during the pandemic. Meanwhile, New York lawmakers have enacted some of the country’s strictest and most restrictive rules on the cryptocurrency industry.

In a similar disclosure by Suarez, the mayor of Miami reported crypto holdings $71,321 at the end of 2022, according to documents obtained by The Miami Herald via the county election department. Suarez, who uses Jack Mallers’ Strike wallet to accept his bitcoin salary, also saw his net worth double to $3.4 million last year.

It’s unclear if Suarez has converted some of his cryptocurrency holdings into fiat cash, since his annual salary is $130,000, or whether his deliberate income has been diminished by bear market prices. CNBC reached out to Suarez’s team but did not immediately receive a response.