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New York Mayor Adams will receive first paycheck in cryptocurrency

Eric Adams
Posted at 4:15 PM, Jan 20, 2022
and last updated 2022-01-20 16:15:50-05

New York Mayor Eric Adams says he plans to receive his first paycheck as mayor in the form of the cryptocurrencies bitcoin and ethereum.

Mayor Adams made the remarks Thursday, as Reuters reported, amid an increasing rush by investors, countries, and companies to be more open to understanding the currencies, which run on blockchain technology.

Adams' Friday paycheck will be switched into cryptocurrency using an online platform called Coinbase Global Inc., Adam's said, according to the Wall Street Journal.

Earlier this month one of the nation's largest retailers, Walmart, was said to have reportedly filed multiple trademark applications in late December to sell virtual goods. The retailer signaled in the filing that the company plans to possibly get involved with NFTs, the acronym for "non-fungible tokens," which are virtual items sold with a physical certificate of authenticity. Walmart also plans to delve into the cryptoconcurrency space as well, as Engadget reported.