New York City has made progress toward becoming cryptocurrency financial capital as the race between the city and Miami heats up and as venture capital firms have bought real estate in the Big Apple to maximize investment in space.
Some of the motivations for developing in New York City include a rich financial history, the prevalence of human capital as well as access to universities.
“We want to be the most innovative city on the planet because we know the future of high -paying jobs in America depends on creating an innovation economy,” Suarez said. toward “Morning with Mary” in September.
The mayor of Miami said he would receive 100% of his salary bitcoinsay”Cavuto: Coast to Coast“in November, after he secures a second term, that move will” send a message to the world that we want to be one of the most innovative governments and innovative cities on the planet. “
“New York is the center of the world, and we want to be the center of cryptocurrency and other financial innovation,” Adams said in a statement in January, shortly after taking office. “Being at the forefront of these innovations will help us create jobs, improve the economy, and continue to be a magnet for talent from all over the world.”
Last year, New York City pulled in $ 6.5 billion in crypto startup funding last year, accounting for 46% of all U.S. funding for companies focused on crypto, Forbes reported, citing data from CB Insights, added that Silicon Valley came in second with $ 3.9 billion in funding. Los Angeles and Miami reportedly earned $ 760 million.
Silicon Valley -based investment firm Andreessen Horowitz will have more than four times the New York City office space, signing a long -term lease in December in SoHo for the crypto fund, Real Deal reports.
“We believe that the next wave of computing innovation will be driven by crypto,” the company said in a news release in June when it announced it had raised new funds of $ 2.2 billion to continue investing in crypto networks.
Also in June, it is reportedly revealed the US cryptocurrency exchange Coinbase set up an office in New York City. A Coinbase spokesman did not immediately respond to FOX Business’s request for comment on the motivation for its expansion into the Big Apple.
|coins||COINBASE GLOBAL INC.||74.01||-9.50||-11.38%|
|BITQ||BITWISE CRYPTO INOVATORS TRUST ISSUE TRADING CONCEPT E||8.97||-0.25||-2.69%|
Chairman of the Bitcoin Foundation Brock Pierce weighed in when some state lawmakers recalled a two -year moratorium on crypto mining operations to curb New York’s carbon footprint, arguing that the move could hinder business investment.
Pierce said the proposed legislation “contrasts with what others around the world are doing.”
“Everyone is trying to attract crypto business,” continued the cryptocurrency billionaire.
The bill that seeks to put a two-year moratorium on certain types of proof-of-work crypto mining operations in New York sat on the Senate Environmental Conservation Committee and decided not to consider the legislation at its last meeting of the session, CoinDesk reported Mondayciting the schedule released this morning.
FOX Business ’Breck Dumas contributed to this report.