Express

New York City Comptroller Candidate Plans To Allocate Up To 3% Of City Pension Funds To Cryptocurrencies

Mary Liu

Summary: Reshma Patel, the candidate for New York City comptroller released plans for cryptocurrencies on her website on Monday, including calls for the allocation of part of the city's pension funds to cryptocurrencies.  In general, the city comptroller supervises the distribution of funds by managing government projects and city pensions.  The highlight of Patel's campaign is ...

Reshma Patel, the candidate for New York City comptroller released plans for cryptocurrencies on her website on Monday, including calls for the allocation of part of the city's pension funds to cryptocurrencies. 

In general, the city comptroller supervises the distribution of funds by managing government projects and city pensions. 

The highlight of Patel's campaign is that cryptocurrency and blockchain will play a role in the current economic recovery and future plans. Each of the city's five retirement funds will have 1%-3% invested in cryptocurrencies. 

She also plans to invest in blockchain-focused funds and will convene a working group to study how New York City can invest in blockchain technology more directly.

By Mary Liu

  • BitFuFu’s VP on Mining Leadership, Corporate Crypto Treasuries, the Stablecoin Act, and... 2 days ago
  • BTC Weekly Outlook: A Bullish Week, but Signs Point to a Shift to Defensive Play 3 days ago
  • Figma's IPO Triumph and Crypto Bet: How a Design Disruptor Stunned Wall Street After a ... 13 days ago
  • When Stablecoins Tear Down Banks’ Interest Margin Moats — A Third Look at the U.S. “Ge... 15 days ago
  • Twitter Space Highlight: Is Altcoin Season Coming? Unpacking BTC, Institutions & RWA 17 days ago
  • You need to login to comment.