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Opinion | Can Andrew Yang turn New York into the world’s cryptocurrency capital?

  • In his campaign to become the next New York City mayor, Yang has shown he is a passionate proponent of digital currencies and is equipped to turn the cultural capital into a major cryptocurrency hub

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Mayoral candidate Andrew Yang screams as he prepares to speak at a press conference on January 14 in New York City. Photo: AFP

In America and Americans and Selected Nonfiction, John Steinbeck wrote, “New York is an ugly city, a dirty city. Its climate is a scandal, its politics are used to frighten children, its traffic is madness, its competition is murderous. But there is one thing about it – once you have lived in New York and it has become your home, no place else is good enough.”

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Sharing similarities with Stockholm syndrome, New Yorker syndrome involves captives bonding with their captor and castigating anyone bold enough to question such loyalties. With New Yorker syndrome, disgust and fear turn into admiration and love over the course of a few weeks. An irrational love.

New Yorkers love New York in a way that is both admirable and absurd in equal measure. The city has an embarrassment of problems, but love – be it irrational or otherwise – definitely isn’t one. If in doubt, just ask Andrew Yang. He really loves the city. Now, in an effort to save the city he loves from the apparently unlovable Bill de Blasio, Yang is running for mayor.
In a recent tweet, the entrepreneur, politician and philanthropist promised to transform the city into “a hub for BTC and other cryptocurrencies”. If Yang has his way, he could well combine the acronyms for New York and bitcoin and rename the city NYBTC.

Ross Perot, a man who knew a thing or two about political campaigns, famously said, “talk is cheap; words are plentiful; deeds are precious.” With Perot’s quote in mind, can Yang deliver on his tweets? He kicked off his mayoral campaign with a series of blunders and ill-fated headlines, but his polling numbers are impressive.

02:20

Democrat Andrew Yang throws hat in ring for US presidential race

Democrat Andrew Yang throws hat in ring for US presidential race

According to a poll released on February 10, 28 per cent of eligible voters intend to vote for Yang. More encouragingly, his two biggest rivals, Brooklyn Borough president Eric Adams and New York City comptroller Scott Stringer, have elicited far less enthusiastic responses.

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