New York City Mayor Eric Adams is officially out of the mayoral race, plunging the city’s pro-crypto push into limbo.
New York’s crypto hub ambitions could be set for uncertainty after New York City Mayor Eric Adams dropped out of his reelection bid on Sunday.
In a video on X on Sunday, Adams cited financial struggles stemming from his dismissed federal bribery case and the withholding of public funds.
“Despite all that we have achieved, I cannot continue my reelection campaign,” he said before adding that the “constant media speculation about my future and the campaign finance board’s decision to withhold millions of dollars has undermined my ability to raise the funds needed for a serious campaign.”
