Coinbase Explores New York’s Crypto Adoption in ‘United States of Crypto’ Series

In addition to the thriving blockchain ecosystem in New York, the report also casts a spotlight on the state’s captivating fusion of fashion and blockchain technology. 

Coinbase, one of the leading global crypto exchanges based in the United States, continues to explore the American crypto scene through its ongoing series titled “The United States of Crypto”. The company recently released part four of the series “United States of Crypto: New York”, which takes a deep dive into how the city is embracing digital assets and blockchain technology. In a blog post published on August 8, 2023, Coinbase unveiled its insights, showcasing New York’s increasing prominence in the world of cryptocurrencies.  Interestingly, approximately 19% of New Yorkers are involved in crypto, owning and using different digital assets. The figure highlights a remarkable surge in the state’s acceptance and utilization of virtual currencies.

However, the report goes beyond statistics to capture the sentiments and attitudes of New Yorkers toward cryptocurrencies. The study, conducted in collaboration with Morning Consult, revealed an intriguing trend: a substantial number of respondents believe that digital assets have the potential to bring fairness to the financial system.

Additionally, many respondents see cryptocurrencies as a promising avenue for future investments.

New York’s Diverse Crypto Ecosystem

The report also found that the state, which prides itself as a global epicenter of innovation across various industries, has a robust community of 692 blockchain organizations and over 800 founders. Importantly, since the beginning of 2020, 52% of Fortune 100 companies have embarked on initiatives related to cryptocurrencies, blockchain, or web3 technologies.

These initiatives have predominantly found a home in the technology, financial services, and retail sectors, with many choosing New York as their base of operations. Prominent crypto and blockchain companies are also making their mark in the city. Notable entities such as Gemini, OpenSea, Coinbase, Chainalysis, Ripple, Fireblocks, Paxos, and NYDIG are contributing to the growth of New York’s crypto landscape.

Blockchain and Fashion Fusion

In addition to the thriving blockchain ecosystem in New York, the report also casts a spotlight on the state’s captivating fusion of fashion and blockchain technology.

Morphew, a New York-based brand specializing in fashion, art, and lifestyle, is pioneering the fusion of antique style with futuristic trends and technology. Bridgette Morphew, the Founder and CEO of Morphew, envisions leveraging blockchain technology to create an archive of unique fashion collectibles.

“We’re consistently pushing the boundaries of innovation. As an early crypto adopter, I saw the incredible potential of blockchain in safeguarding one-of-a-kind fashion treasures,” he said.

The report also cited the company’s collaboration with Arx, a hardware technology firm, which led to the launch of its non-fungible tokens (NFTs) collection. Arx’s technological prowess enables the integration of digital chips into tangible garments, bridging the physical and digital realms of fashion together.

Morphew’s Genesis NFT collection, securely hosted on the blockchain, offers digital authentication and a virtual fashion showcase through stunningly realistic 3D renderings. This innovative collection debuted in the prestigious Art Basel Miami.

Blockchain News, Cryptocurrency News, News

Chimamanda U. Martha

Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.

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