New York City Mayor Eric Adams drops out of reelection bid due to financial struggles from dismissed federal bribery case. Adams, known for reducing crime and boosting economy, faced mounting pressure. Frontrunner Zohran Mamdani’s stance on crypto remains unclear, causing concern in the industry. Mayoral election set for Nov. 4, 2025.

Adams previously advocated for NYC as a crypto hub, calling for a digital advisory council and a Bitcoin bond. However, his proposal was rejected by NYC Comptroller Brad Lander. Mamdani leads in polls, with a more regulatory approach to crypto compared to Adams. The mayoral election is scheduled for Nov. 4, 2025.

Read more at Cointelegraph: NYC Mayor Adams Drops Out, Crypto Policies At Risk