Francis Suarez News

South by Southwest, one of Austin’s biggest festivals with exhibits from tech industry leaders, films and musical acts, kicked off its first weekend — and the theme for many seemed to be nonfungible tokens, or NFTs.

Disclaimer: The text below is a press release that was not written by Cryptonews.com. 

Upon the announcement that Francis Suarez, Mayor of the City of Miami, took a $5.25 million disbursement from the MiamiCoin wallet, Cointelegraph inquired about how the city will use these funds.

Bitcoin. The ballooning popularity of Bitcoin and other digital currencies has given rise to a strange new political breed: the crypto mayor. Eric Adams, New York's new mayor, accepted his first paycheck in Bitcoin and another cryptocurrency, Ether. Francis Suarez, Miami's mayor, headlines crypto conferences. Now even mayors of smaller towns are trying to incorporate crypto into municipal government, courting startups and experimenting with buzzy new technologies like NFTs to raise money for public projects. Their growing ranks reflect the increasing mainstream acceptance of digital currencies, which are highly volatile. «Mayors rationally want to attract high-income citizens who pay their taxes and impose few costs on the municipality,» said Joseph Grundfest, a business professor at Stanford. But as with many ambitious crypto projects, it's unclear whether these local initiatives will ultimately amount to much. So far, most are either largely symbolic or theoretical.

The cryptocurrency boom reached new levels by touching on salaries in some countries. The millennial generation preferred to receive payments in cryptos. Fair to say, Cryptos are part of the new financial model, and crypto salaries are part of these advances.

New York City's new mayor Eric Adams said that his first paycheck will be converted into Bitcoin and Ethereum via Coinbase Global.

Eric Adams on Thursday said his first paycheck, to arrive on Friday, will be automatically converted into cryptocurrency via Coinbase Global Inc. The salary will be converted to ethereum and bitcoin, the statement added. The mayor last year said he would take his first three paychecks in bitcoin and signaled his intention to make his city the «center of the cryptocurrency industry».

Recently, Cointelegraph spoke to Miami Mayor Francis Suarez following the announcement that Miami residents with a digital wallet can earn a Bitcoin dividend.

Miami-based fintech startup Milo is introducing what it claims is the world’s first “crypto mortgage.” The digital bank will allow crypto investors to leverage their digital assets to purchase real estate in the U.S.

The global cryptocurrency market-capitalisation dipped by 0.12 percent over the last 24 hours to $2.06 trillion, while the trading volume also tumbled by 27.12 percent to $61.66 billion as of January 16.

According to the decree, digital money may also be used to fund city projects.

Brazil’s former capital city, Rio de Janeiro, might start holding crypto in its treasury, its Mayor has revealed.

Eduardo Paes, mayor of Brazilian city Rio de Janeiro, wants to allocate 1% of the city’s treasury into Bitcoin (BTC), Cointelegraph Brazil reported.

2021 was a huge year for the crypto industry. A few years ago, our elected officials probably hadn’t even heard of crypto before, let alone had an opinion on it. However, this year it seemed like crypto was the hot topic on the block all around the globe.

A wave of political goodwill and support for Bitcoin is building up in the U.S. Bitcoin’s dizzying market price swings aside, it seems some politicians have recognized Bitcoin’s potential and its popularity. Numerous mayors across the United States expressed bullish sentiments.

In August 2021, the USA held the majority of the world’s average monthly hashrate share for Bitcoin. As a natural extension of this, different American states are vying for a larger slice of the Bitcoin adoption pie – be it Bitcoin mining or Bitcoin on the balance sheet.

In early November, investment expert and business show host Anthony Pompliano asked which American politician would be the first to take their salary in Bitcoin.

Miami is quickly becoming the crypto capital of the United States. In August of this year, the Magic City was the first state in the U.S. to launch MiamiCoin (MIA), its very own cryptocurrency used for civic engagement. A few months later, Mayor Francis Suarez announced that every Miami resident with a digital wallet will be eligible to receive a Bitcoin dividend. 

Every Miami resident with a digital wallet will be eligible to receive a Bitcoin dividend according to Mayor Francis Suarez. 

New York Democrat Mayor-elect Eric Adams revealed on Twitter today he intends to take his first three paychecks in Bitcoin. Adams also doubled down on his plans to make New York the “center of the cryptocurrency industry” after he takes office in January.

Newly elected New York City Mayor Eric Adams has reiterated his pledge to make the city a crypto hub by accepting his first three paychecks entirely in Bitcoin.