The crypto enthusiasm of the former New York City mayor continues to stir debate. His administration's backing of NYCCoin — a now-defunct municipal cryptocurrency project — remains a cautionary tale in the space. Despite the project's collapse, similar ventures keep surfacing, raising questions about whether city-backed digital assets can ever succeed in a volatile market. The episode underscores the risks when political figures venture into crypto without proper market risk assessment.
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The crypto enthusiasm of the former New York City mayor continues to stir debate. His administration's backing of NYCCoin — a now-defunct municipal cryptocurrency project — remains a cautionary tale in the space. Despite the project's collapse, similar ventures keep surfacing, raising questions about whether city-backed digital assets can ever succeed in a volatile market. The episode underscores the risks when political figures venture into crypto without proper market risk assessment.