New York City Mayor Eric Adams answered some questions about how the meltdown of crypto exchange FTX affects his crypto stance Tuesday at the Manhattan Family Justice Center.

The mayor of New York City said: “I believe in the new markets and the new currencies, and I’m encouraging my young people to learn about them. We had a crypto summit that was partnered with the owners of the New York Nets where we brought young people in to learn about these industries.” He opined:

These industries are not going to go away because they reach low points. This is an industry that we must embrace, and I’m looking to further lean into blockchain and other technologies.