From Cointelegraph

May 30, 2025 6:06:00 pm:

New York City Comptroller Brad Lander criticizes Mayor Eric Adams’s plan to issue Bitcoin-backed municipal bonds, citing instability and risk. Lander warns this move could jeopardize investor trust and city finances. Lander, a Democrat, opposes the proposal and is a potential contender to succeed Adams in the upcoming election. Adams announced the Bitbond plan at the Bitcoin 2025 conference, advocating for its introduction in NYC to support investments. There is a potential model by the Bitcoin Policy Institute for BitBonds, offering a 1% annual interest rate and Bitcoin price gains for bondholders over a 10-year period. Lander’s statement details a simulated model for the bond structure, emphasizing the city’s focus on capital assets funding. Adams has not provided specific details on how the BitBond would operate, leaving questions about its feasibility unanswered.

Read more at Cointelegraph: NYC Comptroller rejects Mayor Adams’s proposal for Bitcoin-backed bonds