In a powerful declaration of New York City’s commitment to becoming the global hub for digital finance, Mayor Eric Adams today announced the city’s first-ever New York City Crypto Summit, set to take place at Gracie Mansion on May 20.

Joined by Chief Technology Officer Matt Fraser, and crypto industry leaders June Ou and Richie Hecker, Adams outlined a bold vision to transform NYC into the world’s undisputed capital for crypto, blockchain, and fintech innovation.

“This is nothing short of a technological revolution — the age of tokenization,” said Mayor Adams, standing at Gracie Mansion. “It’s not the future, it is here, and it’s here now. And when it comes to immense opportunities to grow our economy, it’s New York.”

CTO Matt Fraser kicked off the event, framing the upcoming summit as a critical step in aligning industry, government, and innovation. “We’re here to talk about something that’s going to change the landscape of the modern technology era,” Fraser said. “New York City has long been the fintech capital, and the rise of digital assets — including crypto and blockchain — positions us to lead again.”

Mayor Adams underscored the summit’s intent: fostering innovation, attracting world-class talent, and expanding financial access to underserved communities. “I really want to emphasize underbanked communities,” Adams noted. “This new form of finance is something that can impact those communities that have historically lacked access to banks and ways to save their resources and dollars.”

Recalling his early stance on digital currencies, Adams added, “As you remember, I supported crypto long before any of my mayoral peers. I was the first American mayor to have my initial three paychecks converted into crypto way back in 2022. Many people laughed at me, and all I can say is, who’s laughing now?”

The mayor emphasized that New York now outranks Silicon Valley in blockchain startup activity. “We’re going to work with our tech companies, from startups to global giants, to create a friendly environment that helps them succeed,” Adams declared.

Joining the mayor were key industry figures:

June Ou, co-founder of Figure, praised NYC’s strategic edge: “After building two multibillion-dollar companies in fintech and crypto, there is, without question, no competitor for New York City. Figure brings the entire business full cycle to blockchain… We look forward to driving the future of capital markets on blockchain while based in New York City.”

Richie Hecker, CEO of Traction & Scale and summit partner, echoed her sentiments: “People used to think Silicon Valley is the center of the tech universe. Well, maybe they were right. But New York City is the center of the actual universe.”

Hecker also revealed that Hyla, an asset manager with over $100 million under management, will open a new NYC office:

“This is all thanks to the mayor’s bold actions… We chose New York City because of Mayor Eric Adams’ firm commitment to leading the world in financial innovation.”

When asked about the role of the New York Department of Financial Services (DFS), Adams struck a balance between innovation and protection.

“It is good to know that the city is going to have safe regulations in place… But at the same time, we can’t over-regulate. That will prevent growth,” he said, calling on state leaders to embrace a “crypto-friendly, blockchain-friendly environment.”

The NYC Crypto Summit on May 20 will convene government officials, crypto innovators, fintech leaders, and policy experts to discuss regulatory frameworks, public-private partnerships, and the long-term economic potential of blockchain.

As Mayor Adams put it: “If you’re into crypto, blockchain, Web3, or the fintech space, New York City is open for business. Join us. There’s no place like New York.”