NYC looks to be a crypto capital
Bitcoin Foundation Chairman Brock Pierce weighs in as some state lawmakers are considering a two-year moratorium on crypto mining operations to curb New York’s carbon footprint.
New York City has been making progress towards becoming the cryptocurrency financial capital as the race between the city and Miami heats up and as venture capital firms have been buying real estate in the Big Apple to expand their investment in the space.
Some motivations to expand in New York City include its rich financial history, the prevalence of human capital as well as access to universities.
This as Miami has been pushing hard to attract cryptocurrency innovation to the city, in fact, Miami Mayor Francis Suarez dubbed Miami the crypto capital of the world.
"We want to be the most innovative city on the planet because we understand the future of high paying jobs in America is relying on creating innovation economy," Suarez told "Mornings with Maria" in September.
Miami Mayor Francis Suarez will take 100% of his salary in bitcoin
Miami Mayor Francis Suarez says the move will ‘send a message to the world that we are going to be one of the most innovative governments and innovative cities on the planet.’
The mayor of Miami said he will accept 100% of his salary in bitcoin, telling "Cavuto: Coast to Coast" in November, after he secured a second term, that the move will "send a message to the world that we are going to be one of the most innovative governments and innovative cities on the planet."
New York City Mayor Eric Adams, who has been a major advocate of growing the crypto space in the city, accepted his first paycheck in the form of ethereum and bitcoin.
"New York is the center of the world, and we want it to be the center of cryptocurrency and other financial innovations," Adams said in a statement in January, shortly after taking office. "Being on the forefront of such innovation will help us create jobs, improve our economy, and continue to be a magnet for talent from all over the globe."
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Last year, New York City attracted $6.5 billion in crypto startup funding last year, accounting for 46% of all U.S. funding to crypto-focused companies, Forbes reported, citing data from CB Insights, adding that Silicon Valley came in second with $3.9 billion in funding. Los Angeles and Miami reportedly both raked in $760 million.
Silicon Valley-based investment firm Andreessen Horowitz will more than quadruple its New York City office space, signing a long-term lease in December in SoHo for its crypto fund, the Real Deal reported,