NYC Mayor Eric Adams to receive first paycheck in cryptocurrency via Coinbase
January 20, 2022 at 10:26 am EST
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(Reuters) - New York City Mayor Eric Adams on Thursday said his first paycheck, to arrive 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".
(Reporting by Mrinmay Dey in Bengaluru; Editing by Chizu Nomiyama)
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides platform, which enables its users to engage in a variety of activities, including discovering, trading, staking, storing, spending, earning and using their crypto assets. The Company offers a suite of products and services that are designed to meet the distinct needs of its three customer groups: consumers, which includes individual retail user customers seeking to discover or trade crypto assets and engage in on chain activities; institutions, which are businesses that include market makers, asset managers, hedge funds, banks, wealth platforms, registered investment advisors, payment platforms, and public and private corporations; developers, which comprise of developers, creators, merchants, crypto asset issuers, organizations and financial institutions, and other groups building decentralized protocols, applications, products, or other services on chain.
COINBASE GLOBAL, INC. 
