'Innovation doesn’t always work.'
Mayors of several major US cities are noticeably quiet about city-based cryptocurrencies they once promoted as a solution to many of their municipalities' problems.
CityCoins, a Delaware-based startup, has convinced the mayors of cities including New York City and Miami to institute city-branded blockchain projects. But Miami's crypto, dubbed MiamiCoin, has hit of a snag: its value has plummeted around 95 percent since peaking in September,Back in February, Miami cashed some of its MiamiCoin holdings out for the first time, a $5.25 million cash injection that mayor Francis Suarezentirely last year, allowing the government to operate on its crypto holdings alone.
" by now-mayor Eric Adams. The token, however, has plunged 68 percent since Adams took office on January 1, according to
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