Latest news with #CryptoSummit
New York Post
27-05-2025
- Business
- New York Post
Mayor Adams to headline Crypto Convention in Vegas tomorrow on taxpayer's dime
Mayor Eric Adams is heading to Vegas tomorrow on the taxpayers' dime, where he's slated to talk bitcoin at a crypto industry convention, The Post has learned. Hizzoner is scheduled as a 'featured speaker' at crypto-event company DNA House's conference, alongside household names in crypto like biotech tycoon and former political hopeful Vivek Ramaswamy and Bryan Johnson of Venmo. President Donald Trump is expected to possibly make an appearance remotely, while Vice President JD Vance is expected to be there in person. Advertisement 3 Mayor Eric Adams addresses the attendees at the Crypto Summit round table held at Gracie Mansion on the Upper East Side of Manhattan. Andrea Renault/ZUMA / The announcement of the Mayor's attendance comes on the heels of his 'NYC Crypto Summit' at Gracie Mansion last week — in which he revealed the creation of a digital asset advisory council to bring more crypto jobs to NYC. 'The age of tokenization, which includes crypto and blockchain and other fintech innovations, that age is here, and we're going to continue to move forward with it,' said Mayor Adams last week at the inaugural gathering. Advertisement 3 Adams reminded the crowd at the Crypto Summit that he took his initial salary payments in Bitcoin and is promoting NYC as the premier city for the crypto currency industry. 3 Adams is headlining the event alongside Vivek Ramaswamy and Bryan Johnson. Instagram/DNA Fund DNA House is co-owned by crypto billionaire Brock Pierce, who was also in attendance at last week's summit. In 2021, Pierce flew Adams out on his private plane to speak at a separate Crypto event in San Juan, Puerto Rico — though the Mayor asserted that he funded the trip himself. Advertisement City Hall confirmed to The Post that the quick trip to 'Sin City' is on official business for his duties as Mayor. He will also be joined by Deputy Mayor for Intergovernmental Affairs Tiffany Raspberry. The convention is taking place May 27-29 at Maggiano's Las Vegas. Adams is scheduled to speak tomorrow evening.
Int'l Business Times
13-05-2025
- Business
- Int'l Business Times
Can NYC Become The 'Crypto Capital Of The Globe'? Adams Flaunts Bitcoin Paycheck Gains
He said New York City is at the frontline of 'the age of tokenization' He said NYC will attract global talents and provide opportunities for underbanked communities $BTC was trading at around $41,000 when Adams first converted his paycheck into Bitcoin and Ethereum Bitcoin is now trading above $100,000 – 'Who's laughing now?' Adams said Monday New York City Mayor Eric Adams on Monday bared his plans to turn the city into the "crypto capital of the globe," also flaunting how his first three paychecks that he converted into cryptocurrency back in 2022 have made significant gains. During a Monday press briefing ahead of the city's first Crypto Summit, Adams vowed his goal remains the same in turning the city into the world's crypto hub. "It is not the future. It is here, and it is here now," he said of the new financial era where digital assets are beginning to go mainstream. Turning NYC Into a Crypto Capital In his address, Adams said his main goal is to provide more access to the city's financially underserved populations. He said NYC has entered "the age of tokenization" and digital assets have become one of New York City's "fastest-growing industries." To grow the city's economy and make sure NYC doesn't fall behind in the world's transition toward embracing digital assets, blockchain, and crypto assets, Adams said NYC will attract global talents in the space. He projected that top talents from around the world and also "provide opportunities to underbanked communities and make government more user-friendly." He noted how the "new form of financing" opens a path for underbanked New York city residents to have "historically" been lacking access to banks and other more traditional financial services. He added that the city government will work with crypto and blockchain companies "to help them succeed," establishing a welcoming tone that could attract some top players in the sector. NYC Crypto Summit As for the May 20 crypto summit, the first summit to be held in collaboration with the city government, Adams said it should demonstrate his administration's commitment to "partnership." He said the summit will not only feature crypto innovators, but also crypto influencers and other advocates who will share their thoughts and insights on helping NYC chart its path toward its goal. Adams Flaunts Crypto Paycheck Adams also mentioned how his converting of his first three paychecks into crypto has been three years since he made the decision. Back in 2022, Adams utilized Coinbase to automatically convert his first paycheck into cryptocurrencies. His second and third paychecks as NYC mayor were also converted into crypto. "As you remember, I supported crypto long before any of my mayoral peers. I was the first American mayor to have my initial three paychecks converted into crypto, way back in 2022. Many people laughed at me. Now all I can say is, 'Who's laughing now?'," Adams said. In January 2022, when Adams had his first paycheck converted to Bitcoin and Ethereum, BTC prices were at around $41,000 while ETH prices were trading at around $3,000. While Ethereum has fallen since then to around $2,400 as of late Monday, Bitcoin is trading above $100,000. If Adams didn't sell any of his BTC since his paycheck conversion, he has undoubtedly made gains on his Bitcoin. Adams is also known for having suggested back in 2021 that crypto should be taught across NYC schools as he highlighted his dreams of turning the city into the center of tech and fintech innovation.
Forbes
24-04-2025
- Business
- Forbes
Will DOGE Disrupt Real Estate And Bring It Onchain?
Real estate has long been ripe for blockchain modernization, but past efforts faced skepticism and regulatory inertia. Now, with the Trump administration and its newly chartered Department of Government Efficiency (DOGE) exploring blockchain solutions, the opportunity to streamline real estate transactions is finally within reach. After all, if there's one thing President Trump knows, it's real estate—he built a global brand around it, made billions in the industry, and etched his name on skylines around the world. Like Uber and Airbnb, which had to navigate a maze of regulatory hurdles but ultimately reshaped their industries to benefit consumers, blockchain has the potential to transform real estate—if regulators are open to it. With clear policies in place, blockchain can cut unnecessary fees, reduce fraud, and make homeownership more accessible, modernizing one of the last major industries still weighed down by outdated processes. Major shifts are already unfolding in the mortgage sector, where under the leadership of FHFA Director Bill Pulte, shake-ups at Freddie Mac have led to a wave of senior departures. These moves, driven by efforts to modernize the housing finance system, signal the demand for disruption in the mortgage space—creating a possible opening for onchain, crypto-native solutions to take hold. DOGE and the Push for Efficiency At a White House Crypto Summit reception, and the Milken Institute Digital Summit in DC, I participated in, the focus of my conversations was on digital transformation and housing affordability, with blockchain-based real estate transactions discussed as a potential policy solution. Policymakers gave serious thought to the ways leveraging blockchain for transactions can reduce closing costs like title reviews, transaction affiliated fees, to cut down on the expenses of buying a home - $30bn spent by consumers every year. While a seemingly benign conversation, this signals a major shift in the U.S. government's stance on crypto. Under previous administrations, blockchain and crypto projects were met with skepticism, treated primarily as a regulatory challenge rather than an opportunity for economic efficiency. But now, with Trump, Elon Musk, and the Department of Government Efficiency (DOGE) leading an effort to streamline government inefficiencies, policymakers are no longer asking, 'Why blockchain?' but rather, 'How soon can we implement it?' Rather than stifling blockchain innovation, the government is exploring how it can be leveraged to streamline bureaucracy and cut costs—a move that could set the stage for a new era of blockchain-backed government efficiency. A System Rife with Fraud Is Ripe For Reform Despite being a key pillar of the U.S. economy, and playing a major role in GDP growth, the Real Estate industry lags far behind other sectors when it comes to infrastructure. The way property records are stored and managed in the U.S. is shockingly outdated. Right now, more than 3,000 counties each maintain their own separate property databases, using a patchwork of digital and paper-based systems. There is no unified process of secure digital closing, nor a national registry, and many local governments still rely on physical deeds and outdated non-secure databases to track homeownership. This fragmented system creates inefficiencies, increases costs, and opens the door to fraud. The FBI has reported an alarming rise in real estate fraud, with criminals exploiting old infrastructure to forge property records, steal identities, and intercept wire transfers. AI-driven fraud is making these schemes more sophisticated and harder to detect, as scammers use false identities and automated phishing techniques to infiltrate transactions. Beyond fraud, this outdated infrastructure directly contributes to the high cost of real estate transactions. For instance, title insurance—one of the biggest closing costs for buyers—exists primarily because of the inefficiencies in verifying and transferring ownership. Buyers are forced to pay thousands of dollars during a transaction and fraud can still happen —a problem that wouldn't exist if ownership records were stored immutably on a blockchain, and transferred via smart contracts. Blockchain can provide a single, tamper-proof ledger that records property ownership with 100% accuracy, replacing thousands of fragmented, vulnerable data points. Ownership transfers can be automated and executed in real time via smart contracts, eliminating the need for costly verification processes. With an onchain system, fraud would become virtually impossible, as records could not be altered or forged without detection. This is not just a technical upgrade—it's a necessity. With real estate fraud escalating, transaction costs remaining artificially high, and inefficiencies making homeownership more difficult, the need for reform is urgent. The DOGE agency's prioritization of government efficiency and fraud prevention makes blockchain-backed property records and smart contract-based settlements more viable than ever before. If Washington embraces this shift, we could finally see a nationwide move toward real estate transactions that are faster, safer, and more affordable for everyone. It would turn real estate into a liquid financial asset. The Future of Home Buying A modernized real estate system doesn't just benefit governments or financial institutions—it empowers consumers. Today's homebuyers expect convenience, transparency, and digital efficiency, but the industry is still held back by 20th-century processes. Despite studies that millennials and Gen Z overwhelmingly prefer both real estate and cryptocurrency as investment assets, the market hasn't adjusted to meet their expectations for expedient digital transactions, forcing them to navigate outdated processes, excessive fees, and unnecessary bureaucracy. Just as DOGE aims to bring efficiency to government operations, it can set the stage for faster, more affordable, more accessible real estate transactions. If policymakers embrace blockchain for property records and smart contract settlements, homebuying could become as seamless as any other digital transaction, and even more secure. With DOGE exploring blockchain solutions and a real estate mogul in the White House, it's not hard to imagine a future where deeds are replaced with digital tokens.
Yahoo
11-04-2025
- Business
- Yahoo
Crypto's Momentum in Washington Just Getting Started, says BitGo CEO
BitGo CEO Mike Belshe is feeling good. Not necessarily about the recent market volatility, or the over 9% dip in Bitcoin's price since the White House crypto summit he attended alongside other leaders in the industry — but about the long-game for crypto in America. 'We finally have regulators that are engaging ... these are conversations that were just all stalled out. So, the fact that they're not stalled out anymore, I mean, is phenomenal,' Belshe said. After years of gridlock at the Securities and Exchange Commission and overlapping federal hostilities, Belshe — an early and vocal supporter of crypto advocacy in D.C. — says the dam has broken. 'Those brakes are off now,' he said. 'Everybody's working on it.' Belshe was among one of the crypto industry's first supporters to the Trump campaign. He even hosted a campaign fundraiser event in the summer of last year that featured then-running mate JD Vance. At the recent White House Crypto Summit, Belshe sat alongside the likes of Coinbase's Brian Armstrong, Strategy CEO Michael Saylor, and the Winklevoss twins. The roundtable focused mostly on high-level issues for crypto in the U.S. and where clarity would be most helpful. At the top of the list: stablecoins. As Coinage has covered this year, Congress is looking to push through major stablecoin legislation. Even the Trump family's World Liberty Financial is getting in on the game with their new USD1 stablecoin, which BitGo is helping to launch. 'It's going to replace all of payments. It's the bank that you wish you had but you never had,' Belshe said about digital dollars. But BitGo isn't just powering the back-end for other stablecoins like USD1, the company is also gearing up to launch its own stablecoin. The idea, Belshe says, is to create a safer, more liquid alternative to banks. 'They are designed for fast liquidity,' he said. 'They're just better than the banks that we've had in the past that are fractional reserve.' But it's not just about building something better. It's also about geopolitics. Belshe believes the crypto-native architecture of stablecoins could become a powerful tool for U.S. dollar diplomacy. 'We have a president who's thinking how do we keep the dollar strong… how do you get more dollars out to more people? And I think he's going to find stablecoins.' Tether CEO Paolo Ardoino, who leads the largest stablecoin by market cap, has largely argued much of the same benefits as all stablecoin issuers have been putting on the full-court press to court the approval of Congress. However, the biggest fight, Belshe says, is still brewing: interest-bearing stablecoins. So far, it looks like Congress doesn't want that to be allowed. 'This is going to be a big, big fight,' he said. 'The banking lobby is worried that stablecoins returning interest back to retail would disrupt their business.' But Belshe sees the writing on the wall. 'We're on the right side of history here, man. It's your money. You deserve the interest back on your money.' Even if that feature doesn't make it into the upcoming stablecoin legislation, Belshe sees it as inevitable. 'If it doesn't happen directly in the U.S., it will happen through other means or other vehicles… There's no stopping interest on stablecoins back to retail. It's just a matter of time.' While others in the industry worry about decoupling, inflation, or the Fed's next move, Belshe is laser-focused on the real prize: utility. 'Where Bitcoin becomes a win is when people start to use it as a store of value that they actually use for international components,' he said. 'That's where you start to see, like, there's real value.' And now — with regulators engaging, a supportive administration in office, and a flood of stablecoin innovation — Belshe says the industry is finally entering its next phase. 'Great milestone achieved,' he said of recent D.C. breakthroughs. 'But on to the next thing. Let's keep going. We got a lot more road to go here before we're done.' Sign in to access your portfolio
Yahoo
08-04-2025
- Business
- Yahoo
Trump administration disbands crypto regulations enforcement unit
The Trump administration disbanded the National Cryptocurrency Enforcement Team (NCET) according to a Monday memo issued by the Department of Justice (DOJ) outlining their efforts to remove regulatory framework for the growing digital finance sector. Deputy Attorney General Todd Blanche wrote that the NCET will be 'disbanded effective immediately,' stating that the Criminal Division's Computer Crime and Intellectual Property Section (CCIPS) will offer guidance to DOJ officials and work with the crypto and digital asset industry. The DOJ also ordered the Market Integrity and Major Frauds Unit to stop cryptocurrency enforcement and to instead focus on immigration and procurement frauds. According to the memo, 'The Justice Department will no longer pursue litigation or enforcement actions that have the effect of superimposing regulatory frameworks on digital assets while President Trump's actual regulators do this work outside the punitive criminal justice framework.' Officials said changes were made to comply with a January executive order that seeks to provide 'well-defined jurisdictional regulatory boundaries' to promote U.S. leadership in the crypto space. Since returning to the White House, Trump has prioritized government deregulation and created a government reserve of bitcoin along with a 'digital asset stockpile.' He even hosted a Crypto Summit at the White House last month. Democrats have criticized Trump's efforts, calling it a move that will enrich him given Trump's heavy investment in the crypto industry. 'The creation of a strategic cryptocurrency reserve is poised to enrich the President and his closest allies at the expense of American taxpayers,' Rep. Gerry Connolly (Va.), the top Democrat on the Oversight Committee, wrote in a March letter to Treasury Secretary Scott Bessent. The letter came a month after several Republican senators raised concerns with the Securities and Exchange Commission (SEC) handling of the case against the cryptocurrency company DEBT Box, which is accused of defrauding investors of at least $49 million. The Monday memo says the DOJ will now prioritize the prosecution of those who victimize digital asset investors, or those who use digital assets in furtherance of criminal offenses such as terrorism, narcotics and human trafficking, organized crime, hacking, and cartel and gang financing. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
