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Mr. Adams, shortly after his election, also flew to Puerto Rico on the private jet of Brock Pierce, a former child actor who is now a cryptocurrency investor. Mr. Adams said he paid his own way to Puerto Rico, but declined to produce receipts. Mr. Pierce, who attended the mayor’s election night victory party at Zero Bond and donated $100,000 to a political action committee that supported Mr. Adams’s mayoral bid, said he was “preoccupied” and would call back later when asked for comment on Thursday. “Listen, he is pro-business, he understands this is a growing industry, and it’s great P.R. for the city and him,” said Mr. Novogratz, the founder and chief executive of Galaxy Digital, a New York cryptocurrency investment firm that has in recent years grown from roughly 40 employees to more than 200. “It’s a booming industry and to symbolically say, ‘I care about and I want as a city to participate in it’ is really, really smart.”
State Senator Diane J. Savino, who chairs the Senate Committee on Internet and Technology, said that while Mr. Adams’s announcement might seem like showmanship, his actions would make his constituents more comfortable with cryptocurrency. In an interview, Mr. Novogratz described Mr. Adams’s announcement as a potent symbol.
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