"Witch Coin"

[View in browser]( [Bloomberg]( Hi folks, it’s Brad. In the latest sign of crypto-absurdity, Eric Adams, the newly elected mayor of New York, vowed to take his first few paychecks [in Bitcoin](. But first: Today’s top tech news: - As gyms reopen, Peloton’s CEO is [no longer a billionaire]( - Scooter startup Lime raised [$523 million in debt]( in preparation for a public market debut - Apple is bolstering its car efforts, hiring a [former Tesla engineer](  Red, white and Bitcoin Last Monday, a day before the off-year elections staggered the political establishment by sending a Republican to the governor’s mansion of Virginia, Miami Mayor Francis Suarez said that if he was re-elected to a second term, he’d take his next paycheck “[100 percent in Bitcoin](.” Suarez has long wanted to turn Miami into the cryptocurrency Silicon Valley. But New York City’s Mayor-elect Eric Adams was not to be outdone. On Thursday, Adams replied to Suarez on Twitter and [announced]( that he’d take his first three paychecks in Bitcoin. “NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!” he wrote. These gestures, of course, are ridiculous. Navigating the formidable technical and tax issues to pay a government salary in crypto “sounds like a nightmare,” one lawyer [told Politico](. But they were only the latest illustration of how the fashionable world of digital finance has enthralled politicians and their backers. In June, the National Republican Congressional Committee said it would start [soliciting donations]( in cryptocurrency. And last month, Front Row, a Democratic strategy group, [announced a new way]( to raise money by selling non-fungible tokens, blockchain-verified digital collectibles. As part of the program, Front Row will partner with the Texas Democratic party to [auction off digital depictions]( of the arrest warrants for state lawmakers who [fled the state]( this year to foil Republican-proposed voting restrictions. Meanwhile, in Minnesota, Scott Jensen, Republican candidate for next year’s race for governor, unveiled his own line of NFTs—starting with a pair of campaign posters that show him wearing a shirt and tie and holding [a calf and a corndog](. The NFTs sold for a few bucks apiece and conceivably could appreciate in price. It’s unclear whether the [ongoing effort]( has significantly enriched Jensen’s coffers. But the weirdest crypto-political mashup emerged in Salem, Mass., home to the infamous witch trials of 1692 (and birthplace of my Fully Charged collaborator, Austin Carr, who spotted this news item). In a mayoral debate last month, Republican candidate Steve Dibble proposed the creation of a hyper-local alt-coin he called the “Witch Coin.” The idea was that Salem (population: 45,000) could mint its own currency and use it to pay for things like school improvements and debt payments. “This is an idea we should explore!” Dibble said, to what appeared on the YouTube stream to be [a muted response](. “I don’t think [neighboring towns] Beverly and Peabody could do this, but Salem could!” Last week, Dibble [lost the election](. RIP Witch Coin. Let’s not overstate it: The 2021 races weren’t quite the Crypto Elections, in the way various tech trends tend to periodically captivate the national media during a voting cycle. See: the 2008 Facebook Elections. But with politicians and their backers increasingly enamored with crypto and its mythical reputation as a source of free money, such a designation might be looming ominously on the horizon. —[Brad Stone](mailto:bstone12@bloomberg.net) If you read one thing The Shiba Inu crypto craze is stoking demand [for puppies](. Here’s what you need to know Meta’s stock is immune to scandal. Despite the flurry of news over leaked documents, investors still [love the company formerly known as Facebook](, sending shares up 5.4% last week. Stripe is pushing deeper into crypto, bringing on [new board member]( VC Matt Huang. Alphabet is getting closer to becoming a [$2 trillion company](.  Follow Us More from Bloomberg Dig gadgets or video games? [Sign up for Power On]( to get Apple scoops, consumer tech news and more in your inbox on Sundays. [Sign up for Game On]( to go deep inside the video game business, delivered on Fridays. Why not try both?  Like Fully Charged? | [Get unlimited access to Bloomberg.com](, where you'll find trusted, data-based journalism in 120 countries around the world and expert analysis from exclusive daily newsletters. You received this message because you are subscribed to Bloomberg's Fully Charged newsletter. If a friend forwarded you this message, [sign up here]( to get it in your inbox. [Unsubscribe]( [Bloomberg.com]( [Contact Us]( Bloomberg L.P. 731 Lexington Avenue, New York, NY 10022 [Ads Powered By Liveintent]( [Ad Choices](