New York City Mayor Eric Adams Indicted on Corruption Charges

Mayor Eric Adams of New York City has declared his intent to vigorously contest federal corruption charges, asserting that he will utilize “every ounce of my strength and spirit” to prove his innocence.

Details of the Indictment

Mayor Adams has been indicted during an ongoing federal corruption investigation, marking a historic event as he becomes the first sitting mayor in New York to face charges while in office.

The specifics of the indictment are currently sealed, and it remains unclear what exact charges have been brought against him, according to a report by The New York Times.

Upcoming Court Appearance

Adams is expected to appear in court on September 26, when the details of the indictment will be disclosed.

In a recent statement, Adams expressed his commitment to fighting the charges, saying, “I always knew that if I stood my ground for New Yorkers, I would become a target — and a target I became.”

“If I am charged, I am innocent, and I will fight this with every ounce of my strength and spirit.”

Reactions and Political Context

Despite mounting pressure for him to resign, including calls from senior lawmakers like Alexandria Ocasio-Cortez, Adams has insisted that he will not step down from his position as Mayor.

Background on Adams’ Stance on Cryptocurrency

Mayor Adams has been a long-time advocate for cryptocurrency, promoting Bitcoin and accepting his first three paychecks in Bitcoin and Ether. During his campaign in 2021, he vowed to position New York as the hub for the cryptocurrency industry.

FBI Investigation Details

The indictments stem from a comprehensive FBI investigation that began in November 2023, during which agents executed a search at the home of Adams’ chief fundraiser, Brianna Suggs. Authorities also examined Adams’ personal electronic devices over concerns of potential illegal donations linked to the Turkish government from 2021.

The investigation further scrutinized whether Adams exerted pressure on city officials to approve the construction of a high-rise consulate for the Turkish government, despite expressed safety concerns regarding the building’s design.

Moreover, investigators are looking into whether Adams accepted costly flights on Turkish Airlines, a carrier partly owned by the Turkish government.

Recent Developments in Cryptocurrency Policies

In the aftermath of the FTX cryptocurrency collapse in November 2022, which significantly affected the market, Adams reiterated his commitment to cryptocurrency. During his administration, the New York state government enacted a two-year moratorium on proof-of-work mining that utilizes non-renewable energy sources, a legislation Adams publicly opposed before its passage.