New York City Comptroller Brad Lander poured cold water on Mayor Eric Adams’s proposal to issue municipal bonds backed by Bitcoin.
Lander, who shares responsibility for debt issuance with the Mayor’s Office of Management and Budget, said the largest US city won’t be issuing Bitcoin-backed bonds while he’s in office. Lander, a Democrat, is also a candidate to succeed Adams in November’s mayoral election. Adams is running as an independent.
“Cryptocurrencies are not sufficiently stable to finance our city’s infrastructure, affordable housing, or schools,” Lander said in a statement Thursday. “Proposing that New York City should open its capital planning to crypto could expose our city to new risks and erode bond buyers’ trust in our city.”
Bloomberg Crypto
By Teresa Xie and Martin Z Braun
May 30, 2025