Eric Adams Exits NYC Mayoral Race
- Eric Adams exits NYC mayoral race, citing funding issues.
- Adams criticizes radical systemic change as chaotic.
- Minimal impact on crypto markets from Adams’ exit.
Eric Adams, known as the “bitcoin mayor,” exited the 2025 NYC re-election race on September 28, citing insufficient campaign funds and government shortcomings.
The withdrawal underscores political setbacks and highlights minimal impact on cryptocurrency markets, as institutional crypto involvement and asset movements remain unchanged.
Eric Adams, known as the “bitcoin mayor,” has dropped out of the 2025 NYC re-election race. He cited funding shortages and concern for the underserved, marginalized, and abandoned by government in his decision. “Major change is welcome and necessary — but beware of those who claim the answer is to destroy the very systems we built together over generations. That is not change. That is chaos.”
Adams, an early proponent of cryptocurrency, notably accepted paychecks in Bitcoin. He highlighted risks of radical changes, warning of systemic chaos. This marks a shift from NYC’s symbolic crypto endorsement.
Adams’ departure has limited immediate effects on crypto markets or municipal policies. BTC and ETH remain excluded from official NYC transactions, with no fresh institutional crypto activities spurred by this event.
The race now involves Andrew Cuomo and Curtis Sliwa. Financially, Adams pointed to the city’s Finance Board for withholding campaign funds, a key factor in his withdrawal. His exit remains politically driven.
No immediate sector changes or significant blockchain shifts relate directly to Adams’ decision. The political context implies broader impacts hinge on NY’s mayoral succession, hinting potential future crypto roles.
Adams’ crypto advocacy led to limited tangible integration, maintaining only symbolic market effects. Historical precedents show minimal impact for governance tokens or blockchain protocols tied to NYC policies under his tenure.
