Friday, July 1, 2022
Crypto News
Advertisement
  • Home
  • Cryptocurrency
  • Bitcoin
  • Altcoin
  • Cardano
  • Ethereum
  • Blockchain
  • Ripple
  • Videos
No Result
View All Result
  • Home
  • Cryptocurrency
  • Bitcoin
  • Altcoin
  • Cardano
  • Ethereum
  • Blockchain
  • Ripple
  • Videos
No Result
View All Result
Crypto News
No Result
View All Result
Home Cryptocurrency

Hizzoner Adams takes his first paycheck in cryptocurrency

by Crypto News
January 22, 2022
in Cryptocurrency
0
Hizzoner Adams takes his first paycheck in cryptocurrency
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


Immediately is a day of firsts for the newly elected mayor of New York Metropolis. Earlier within the day, Mayor Eric Adams obtained his first paycheck in cryptocurrency — particularly, in a mixture of Bitcoin and Ethereum cash — turning into the primary mayor of the Huge Apple to have his examine transformed to crypto.

Particular Report

The Future of Money


The Future of Money

From blockchain and bitcoin to NFTs and the metaverse, how fintech innovation is altering the way forward for cash.

Read More

In contrast to these grand symbolic gestures related to mayors — be it breaking floor with a golden shovel, posing with a pure gold key, or reducing a ribbon with an outsized pair of silver-plated scissors — Hizzoner’s payout is symbolic for a much bigger motive:  There may be hope that an innovation like digital crypto funds will give a shot within the arm for job creation, the financial system, and fostering tech expertise. And with New York Metropolis nonetheless thought to be the highest monetary middle of the world, the gesture is apropos. “This step taken by the mayor gives a number one instance of how we are able to empower individuals via tech with a extra numerous set of choices to handle their funds,” stated Matt Fraser, CTO of New York Metropolis, in a press release from the Mayor’s workplace on Thursday.

Related articles

Why insurance can be a life saver for investors wealth in cryptocurrency assets

Why insurance can be a life saver for investors wealth in cryptocurrency assets

July 1, 2022
No Man’s Sky players have created an in-game cryptocurrency that works because it has no value

No Man’s Sky players have created an in-game cryptocurrency that works because it has no value

July 1, 2022

No, Adams did not receives a commission at this time with a sack of Ethereum and Bitcoins like those in inventory pictures. As an alternative, his paycheck was mechanically transformed into Bitcoin and Ethereum by way of the crypto buying and selling platform Coinbase. The US Division of Labor stipulates that staff of the Huge Apple cannot receives a commission in cryptocurrency, however they will use a cryptocurrency alternate, corresponding to Coinbase. So, anybody who will get paid in US authorized tender can have their {dollars} transformed into crypto earlier than these funds are deposited into their account.

Immediately’s crypto-paycheck fait accompli is a boon for Coinbase, which has been encouraging customers within the US to participate in shaping the future of payroll and cash by depositing their paychecks into Coinbase’s Direct Deposit app. The app’s ease of use is its strongest promoting level: Arrange a direct deposit utilizing the Coinbase app by tapping Settings > Direct Deposit, choose your present employer or payroll firm, and Coinbase will take it from there by updating your paycheck allocations, based on Coinbase.

However as it’s with politics, the Mayor’s motion to go crypto drew opposition, primarily from environmentalists who argue that cryptocurrency sucks up super quantities of electrical energy to function the 1000’s of computer systems wanted to mine cash. Most of that electrical energy is generated from energy crops that burn fossil fuels and contribute to world warming. New York Finger Lakes environmental non-profit Seneca Lake Guardian has been essentially the most vocal opponent to Mayor Adams’ use of crypto. “Mayor Adams is lifeless flawed and his ignorance might value New Yorkers thousands and thousands of {dollars} in power payments whereas killing native economies, poisoning our water, and filling our air with lethal CO2 emissions,” the group stated in a press release.

However there’s greater than only one environmental group protesting Mayor Adams’ actions. New York State Legal professional Common Leticia James raised issues in regards to the danger elements of investing in crypto, warning that buyers have to method crypto cautiously because of the excessive degree of danger.

Danger has been the secret when investing in cryptocurrency. Regardless of the information of Adams getting paid in digital cash, the market worth of Bitcoin, Ethereum, and most different cryptocurrencies took a big hit on Friday. Based on crypto buying and selling platform CoinMarketCap, shares of Bitcoin dropped practically 13% for the day to round $36,114, whereas Ethereum plunged nearly 17% to about $2,543.

Regardless of crypto’s lackluster market efficiency on Friday, Adams is adamant about implementing crypto on the earth’s monetary capital, even going as far as to say that colleges ought to add blockchain and cryptocurrency to the curriculum. “New York is the middle of the world, and we would like it to be the middle of cryptocurrency and different monetary improvements,” Adams stated in Thursday’s press launch.  



Source link

Share76Tweet47

Related Posts

Why insurance can be a life saver for investors wealth in cryptocurrency assets

Why insurance can be a life saver for investors wealth in cryptocurrency assets

by Crypto News
July 1, 2022
0

Whenever you go for deposits or loans at a financial institution, usually, you do have the choice of taking...

No Man’s Sky players have created an in-game cryptocurrency that works because it has no value

No Man’s Sky players have created an in-game cryptocurrency that works because it has no value

by Crypto News
July 1, 2022
0

Yesterday tech journalist Alex Hern, who has been making comparatively mild enjoyable of the crypto crash, identified that he...

Top five global cryptocurrency investment hubs

Top five global cryptocurrency investment hubs

by Crypto News
July 1, 2022
0

The cryptocurrency sector is a world group greater than another. The very concept of a decentralised financial system based...

Wyoming candidates for U.S. House: Gov't hands off cryptocurrency – Wyoming Tribune

Wyoming candidates for U.S. House: Gov't hands off cryptocurrency – Wyoming Tribune

by Crypto News
July 1, 2022
0

Wyoming candidates for U.S. House: Gov't hands off cryptocurrency  Wyoming Tribune Source link

Major cryptocurrency exchange signs $1.4 million deal to help ICE track crypto trades

Major cryptocurrency exchange signs $1.4 million deal to help ICE track crypto trades

by Crypto News
June 30, 2022
0

One of many massive appeals of cryptocurrency is anonymity: In contrast to precise cash and standard monetary transactions, crypto...

Load More
  • Trending
  • Comments
  • Latest
6 Altcoins to Buy As Crypto Bull Market Gets Crazier: Banking Veteran

6 Altcoins to Buy As Crypto Bull Market Gets Crazier: Banking Veteran

November 7, 2021
Tesla To Accept Shiba Inu Coin and will hit $0.1 in 2021!!

Tesla To Accept Shiba Inu Coin and will hit $0.1 in 2021!!

November 1, 2021
Bitcoin Mining Noise Drives Neighbors Nuts—a Giant Dentist Drill That Won’t Stop

Bitcoin Mining Noise Drives Neighbors Nuts—a Giant Dentist Drill That Won’t Stop

November 12, 2021
First bitcoin. Then GameStop. Now tiny tungsten cubes

First bitcoin. Then GameStop. Now tiny tungsten cubes

October 29, 2021
5 Hotels Accepting Cryptocurrency as a Payment Method

5 Hotels Accepting Cryptocurrency as a Payment Method

0
Top cryptocurrency prices today: Bitcoin, Dogecoin, Ethereum gain up to 5%

Top cryptocurrency prices today: Bitcoin, Dogecoin, Ethereum gain up to 5%

0
Four Emerging Altcoins Soar 101% or More Within Seven Days As Crypto Markets Ignite

Four Emerging Altcoins Soar 101% or More Within Seven Days As Crypto Markets Ignite

0
ADA Price Prediction: Cardano Sits and Waits

ADA Price Prediction: Cardano Sits and Waits

0
3 Crypto Altcoin Bargains You Should Buy Now with $300 | by Stephen Dalton | Jul, 2022

3 Crypto Altcoin Bargains You Should Buy Now with $300 | by Stephen Dalton | Jul, 2022

July 1, 2022
Polygon and Fantom Services Restored After Phishing Attack 

Polygon and Fantom Services Restored After Phishing Attack 

July 1, 2022
Forecasting Solid Profits On Bullish Reversal: Gnox (GNOX), Tron (TRX) And Ethereum (ETH)

Forecasting Solid Profits On Bullish Reversal: Gnox (GNOX), Tron (TRX) And Ethereum (ETH)

July 1, 2022
Mike Cagney on The Blockchain Interviews with Dan Weiskopf

The Blockchain Interviews with Dan Weiskopf: Mike Novogratz

July 1, 2022

Recent News

3 Crypto Altcoin Bargains You Should Buy Now with $300 | by Stephen Dalton | Jul, 2022

3 Crypto Altcoin Bargains You Should Buy Now with $300 | by Stephen Dalton | Jul, 2022

July 1, 2022
Polygon and Fantom Services Restored After Phishing Attack 

Polygon and Fantom Services Restored After Phishing Attack 

July 1, 2022

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cardano
  • Cryptocurrency
  • Ethereum
  • Ripple
  • Videos

Bitcoin Currency Converter

Cryptocurrency Prices by Coinlib
  • Privacy & Policy
  • About Us
  • Contact Us

© 2021 Copyright Crypto News

No Result
View All Result
  • Home
  • Cryptocurrency
  • Bitcoin
  • Altcoin
  • Cardano
  • Ethereum
  • Blockchain
  • Ripple
  • Videos

© 2021 Copyright Crypto News