Pro-crypto NYC mayor to become first sitting mayor to be indicted in historic federal probe

New York City Mayor Eric Adams has been indicted following a federal corruption investigation, marking an unprecedented moment as the first sitting mayor of the city to face such charges. According to sources cited by The New York Times, the indictment remains sealed, with further details expected to be disclosed on September 26 when Adams is scheduled to appear in court.

Adams has adamantly maintained his innocence, pledging to fight the charges.

In a statement to The New York Post, he declared,

“I always knew that if I stood my ground for New Yorkers I would be 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.”

Probe into Adam's association with Turkish officials

The investigation reportedly began in November 2023, when the FBI raided the home of Adam's chief fundraiser, Brianna Suggs, and searched Adam's personal electronic devices over suspected illegal donations from Turkish government in 2021.

The indictment marks a dramatic fall from grace for the mayor of America’s largest city and a stunning blow to one of the nation’s most prominent political offices.

The investigation will also focus on whether Adams pressured officials in the New York City Department into signing off on a new high-rise consulate building for officials from the Turkish government despite alleged safety concerns with the design.

Adams ascend into office

Adams, a former NYPD captain, assumed office in January 2022, positioning himself as the new face of the Democratic Party with promises of a tough-on-crime stance and a commitment to revitalizing the city in the wake of the COVID-19 pandemic. However, he has struggled to tackle major challenges, including the migrant crisis and concerns over subway safety. He has also faced criticism for his late-night socializing and disagreements over city spending, particularly in education.

Now, nearly three years into his first term, Adams is confronting at least one federal charge that threatens not only his ability to govern but also the future of his political career.

Adams, a strong advocate for cryptocurrency, gained attention in 2021 for accepting his first three paychecks in Bitcoin and Ether. He has been a vocal proponent of making New York a hub for the cryptocurrency industry, a vision now overshadowed by his legal challenges.

As Adams prepares for his upcoming court appearance, more details about the charges are expected to emerge. However, the indictment has already cast significant uncertainty over his political future and his role in shaping the city’s crypto ambitions.