Finance

NYC Jumps Into Crypto: How Mayor Adams’ Blockchain Push Could Transform City Services

NYC Mayor Adams created a blockchain office to explore crypto applications as Ethereum trades above $4,100.

October 16, 2025, 2:44 PM

Aerial view of New York City's dense skyscrapers and waterfront

An expansive aerial view showcases the dense urban landscape of New York City, with its towering skyscrapers and bustling waterfront. By MDL.

Executive Summary

New York City Mayor Eric Adams has signed an executive order to establish a dedicated blockchain and digital assets office, aiming to explore crypto payments, tokenized bonds, and smart contracts for municipal services.

Ethereum (ETH) is trading above $4,100, bolstered by robust institutional interest, strong stablecoin activity, and an anticipated Fusaka network upgrade scheduled for December 2025.

XRP is trading above $2.50 as the market awaits U.S. SEC decisions on eight pending XRP exchange-traded fund (ETF) applications, which could potentially trigger significant institutional buying and price rallies.

The Story So Far

New York City’s establishment of a dedicated blockchain office reflects a growing trend among major municipalities and institutions to actively engage with digital assets, moving past a “wait and see” approach due to improving regulatory clarity and a broader understanding of potential applications. This increasing governmental and institutional embrace, coupled with strong investor demand, ongoing network upgrades, and the anticipation of regulatory decisions like ETF approvals, is driving significant activity and optimism across the cryptocurrency market.

Why This Matters

New York City’s establishment of a dedicated blockchain and digital assets office marks a significant governmental embrace of crypto technology by America’s largest city. This initiative is poised to explore practical applications like crypto payments and tokenized municipal bonds within city services, potentially setting a precedent for other major global cities and accelerating the mainstream integration of blockchain into public administration.

Who Thinks What?

New York City Mayor Eric Adams views blockchain and digital assets as a significant area for governmental exploration, establishing a dedicated office to investigate crypto payments, tokenized bonds, and smart contract applications within municipal services.

Market analysts and institutional investors anticipate continued growth and stability for established cryptocurrencies like Ethereum and XRP, driven by sustained institutional adoption, network upgrades, and potential ETF approvals.

Emerging projects like DeepSnitch AI present a viewpoint of high-growth potential and exponential gains, offering advanced surveillance tools for traders in contrast to the more linear gains expected from larger market capitalization cryptocurrencies.

New York City Mayor Eric Adams has signed an executive order establishing a dedicated blockchain and digital assets office, signaling a significant governmental embrace of crypto technology. This initiative positions America’s largest city to explore crypto payments, tokenized bonds, and smart contract applications within municipal services. The development coincides with Ethereum (ETH) maintaining a price above $4,100, consolidating amidst robust institutional interest and an anticipated network upgrade.

NYC Embraces Blockchain Technology

Mayor Adams’ executive order creates the foundational infrastructure for investigating blockchain applications across various city operations, ranging from property records to payment processing. The new office will specifically research tokenized municipal bonds, evaluate the acceptance of crypto payments, and explore smart contracts for automating administrative functions.

New York City’s move aligns it with other progressive municipalities like Miami and Austin, which have already begun pursuing crypto-friendly policies. This growing trend among major cities, coupled with improving national regulatory clarity, suggests a shift from a “wait and see” approach to active experimentation with blockchain technology.

Ethereum’s Market Performance and Outlook

Ethereum’s price traded above $4,100 on October 14, consolidating after encountering resistance near $4,300. The long-term price outlook for ETH projects targets between $4,700 and $5,500 by year-end, contingent on sustained institutional adoption.

Institutional demand for Ethereum products remains strong, with over $303 million flowing into ETH-related investments weekly. Stablecoin activity on the network is also expanding, with unique weekly senders surpassing 1 million for the first time. Additionally, the Ethereum Foundation recently announced the upcoming Fusaka upgrade, scheduled for December 2025.

Over 30% of the total ETH supply is currently locked in validators through staking rewards, a mechanism that supports the price structurally by reducing circulating supply. However, the source article suggests that Ethereum’s substantial market capitalization, exceeding $480 billion, may lead to more linear gains compared to newer projects with smaller market caps.

XRP Awaits ETF Decisions

XRP traded above $2.50 on October 14, as the cryptocurrency market anticipates decisions from the U.S. Securities and Exchange Commission (SEC) on eight pending XRP exchange-traded fund (ETF) applications. Analysts project potential price targets between $3.50 and $4.00, or higher, if these rulings are positive, potentially triggering institutional buying similar to Bitcoin and Ethereum ETF launches.

Technical patterns in the market hint at a possible 57% rally for XRP should ETF momentum build. Ripple, the company behind XRP, continues to forge partnerships with banks and remittance providers, reinforcing its core value proposition in cross-border payments, with major financial institutions actively testing XRP for settlement.

Emerging Projects Highlighted

The source article also highlights a presale project named DeepSnitch AI, which reportedly has raised over $419,000 at a price of $0.01877 per token. According to the article, DeepSnitch AI plans to deploy specialized AI agents, including SnitchFeed for whale tracking, AuditSnitch for instant contract analysis, and SnitchScan for screening new token launches, aiming to provide advanced surveillance tools for traders.

The article claims DeepSnitch AI offers “100x potential” and “could multiply 5,000%,” presenting it as an opportunity for exponential gains in contrast to the more stable, yet potentially less volatile, returns from established cryptocurrencies like Ethereum and XRP.

Market Outlook

The latest developments underscore a growing trend of governmental and institutional engagement with blockchain and digital assets, as evidenced by New York City’s new initiative. While established cryptocurrencies like Ethereum demonstrate stability and continued growth fueled by institutional inflows and network upgrades, the market also sees the emergence of new projects promising high-growth potential, as highlighted by the DeepSnitch AI presale.