PANews reported on September 29th that New York City Mayor Eric Adams has suspended his re-election campaign, adding uncertainty to the battle for control of America's largest city. In a nearly nine-minute video posted on Platform X on Sunday, Adams stated that media speculation about his future and the Campaign Finance Committee withholding millions of dollars in funds have undermined his ability to raise serious campaign funds, but he will continue to fight for the city. While Adams did not mention cryptocurrency in his statement, he has been a longtime supporter, receiving his first three salaries in Bitcoin and spearheading New York's first cryptocurrency summit, where he welcomed industry professionals to the city in May. He has also previously called for the repeal of Bitcoin licensing regulations, which have made New York one of the most heavily regulated cryptocurrency jurisdictions in the United States.

The mayor did not endorse any of his three rivals: Democratic candidate Zohran Mamdani, former Governor Andrew Cuomo, and Republican candidate Curtis Sliwa. After he suspended his campaign, prediction markets showed Cuomo's support rising, with his chances of winning increasing from 11% to nearly 15%, while Mamdani remained the overwhelming favorite, with markets predicting an 84.6% chance of victory.