🚨 Get Your Free NFT Certificate Mint by Completing the Web3 Exam! START NOW
Learn to gain real rewards

Learn to gain real rewards

Collect Bits, boost your Degree and gain actual rewards!

New
Video Courses
Video Courses
Deprecated
Scale your career with online video courses. Dive into your learning adventure!
Learn to gain real rewards

Learn to gain real rewards

Collect Bits, boost your Degree and gain actual rewards!

New
Video Courses
Video Courses
Deprecated
Scale your career with online video courses. Dive into your learning adventure!

NYC Mayor is Relaxed About Receiving His First Bitcoin Check During a Drawdown

NYC Mayor is Relaxed About Receiving His First Bitcoin Check During a Drawdown

In the Cryptocurrency world, as quickly as the market rises, it can tumble down the same way.

We indeed saw the concept by ourselves on a recent Friday, when there was a 50% dip in the Bitcoin market. Nonetheless, the New York City mayor Eric Adams felt completely relaxed about receiving his first Bitcoin payout at the same time.

He talked about his losses in an exclusive interview, and was completely cool-headed about the situation:

What is Basic Attention Token (BAT)? Brave Browser EASILY Explained

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is Basic Attention Token (BAT)? Brave Browser EASILY Explained

What is Basic Attention Token (BAT)? Brave Browser EASILY Explained What is Basic Attention Token (BAT)? Brave Browser EASILY Explained

Additionally, he ignored the question of “How much money did you lose?” asked by a CNN interviewer, pointing out how essential Bitcoin technology is, and expressing the excitement of encouraging young people “who have historically been denied access to this new technology” instead:

It’s the same as when I invested in the stock market; we saw a drastic drop during 2018 and other times. The purpose of Bitcoin is to send a message that New York City is open to technology. We want to see a large amount of new technology in the city of New York and to encourage our young people to engage in these new emerging markets.

It goes without saying that America’s standards are very strict to New York’s crypto regulations. The mayor joined the cryptocurrency world expecting a different outcome, but you can't always predict what would happen.

Adams stated that he will obtain his first Bitcoin paychecks, or an average of $97,000. Though people tend to guess that he probably lost about $5,000 on that meaningful Friday, and as a result, got paid approximately $32,333.

Another interesting thing is that due to the United States Department of Labor laws, the payments emerged in fiat (as U.S. dollars), and only after that, they were converted into digital coins on Coinbase (Coinbase is a platform where you can buy, sell, exchange, or store your cryptocurrency and do it securely).

Crypto exchange Gemini pointed out in Cryptopedia that “Nearly six years after Bitcoin’s genesis block, the New York State Department of Financial Services (NYDFS) took notice of cryptocurrency's potentially wide-ranging implications and codified a piece of crypto regulation called the “BitLicense”.”

Aaron S., Editor-In-Chief
Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

Loading...
binance
×
Verified

$600 WELCOME BONUS

Earn Huge Exclusive Binance Learners Rewards
Rating