Andrew Cuomo Pushes Crypto Vision in New York Mayoral Race

Cuomo wants to make the city “the global hub of the future,” and he plans to create a chief innovation officer role and an Innovation Council to promote growth in crypto, AI, and biotech. Despite his past ties to crypto exchange OKX during its federal probe, Cuomo’s agenda suggests that there could soon be a shift toward encouraging innovation and bridging Wall Street with digital assets. However, he faces stiff competition from Democratic frontrunner and much less crypto-friendly Zohran Mamdani.

Cuomo Launches Pro-Crypto NYC Campaign

Former New York governor Andrew Cuomo is reportedly planning a major comeback. This time he plans to do it through a campaign centered on crypto, AI, and biotech. As he wants to become New York City’s next mayor, Cuomo is positioning himself as the candidate of innovation to transform the city into “the global hub of the future,” according to Eleanor Terrett, co-host of Crypto in America.

Cuomo’s proposed agenda reportedly includes creating a new chief innovation officer role to attract investment and jobs, and forming an Innovation Council with three advisory committees focused on crypto, AI, and biotech. These committees will advise on technology adoption, workforce development, and regulatory streamlining for emerging industries. Insiders suggest the initiative is part of an attempt to modernize how the city integrates new technology and to make New York a leader in cutting-edge sectors.

Cuomo’s experience with the crypto industry already attracted some attention. He previously served as an advisor to crypto exchange OKX during a federal probe that ended with the company pleading guilty to several violations and agreeing to pay more than $500 million in fines and penalties. Despite this controversial background, his return to politics could be a big shift in the city’s approach to digital assets.

Andrew Cuomo

If implemented, Cuomo’s plans could deepen the bridge between traditional finance and crypto. With Wall Street’s massive concentration of capital, New York could channel massive inflows into the digital asset sector. The move could also build on outgoing Mayor Eric Adams’ initiatives, including the recent creation of the Office of Digital Assets and Blockchain Technology, which was designed to promote responsible use of digital assets and attract global talent.

Cuomo, however, faces an uphill battle. He trails behind Democratic frontrunner Zohran Mamdani, who is an outspoken progressive who has shown very little enthusiasm for crypto or big tech. Republican candidate Curtis Sliwa is also still in the race, but current polling shows that Mamdani holds a commanding lead. 

Some people in the crypto community, including Gemini CEO Tyler Winklevoss, criticized Mamdani’s anti-innovation stance, and suggested that “things will have to get worse in NYC before they get better.”