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NYC Mayor Adams to Amend Financial Disclosure Form to Include Bitcoin and Ethereum Holdings

Mayor Adams will update his financial disclosure form to include his investments in Bitcoin and Ethereum, according to his spokesman. The Daily News highlighted that the form did not mention his holdings in these cryptocurrencies.

Adams previously stated that he had converted his first three paychecks into Bitcoin and Ethereum, and as recently as November 2022, he confirmed that his money was still in these forms of cryptocurrency.

Adams did not list his Bitcoin and Ethereum holdings on the form because he believed he only had to report securities, not currencies, according to his spokesman. Two of his top aides, Deputy Mayor of Public Safety Phil Banks and senior adviser Timothy Pearson, answered "yes" to the crypto question in their annual financial disclosures.

Environmental activists have criticized Adams for promoting cryptocurrencies and for raising campaign cash from crypto industry executives at a fundraiser in the Hamptons last year.

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