New York Mayor Believes Crypto Presents “Incredible Opportunity” Despite Current Crisis

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Thu, 11/17/2022 - 18:23

Alex Dovbnya

Eric Adams remains optimistic about cryptocurrencies in spite of the recent crash that was caused by the FTX exchange

New York Mayor Believes Crypto Presents “Incredible Opportunity” Despite Current Crisis

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According to a Thursday report, New York Mayor Eric Adams still keeps faith in cryptocurrencies in spite of the ongoing market turmoil.

Adams is convinced that cryptocurrencies present “an incredible opportunity” for the Big Apple.

Those who claim that the recent impede crypto’s long-term growth are “shortsighted,” according to the 62-year-old politician.

FTX Advisers Find Only $740 Million in Crypto, While Liquidity Gap Stands at $8 Billion

Bitcoin and other cryptocurrencies are currently in the middle of a major crisis after the FTX exchange went belly-up.

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The largest cryptocurrency is currently trading at $16,712 after declining 75.88% from its record peak that was achieved a year ago.

#Cryptocurrency Adoption

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.