Andrew Cuomo Desperately Turns To Crypto To Beat Zohran Mamdani
Former New York Governor and present mayoral candidate Andrew Cuomo is pledging to remodel New York City into the worldwide hub of the long run.
The remarks come solely weeks after Eric Adams exited the race, leaving Cuomo as the one crypto-forward candidate working for the NYC mayor’s workplace.
Cuomo’s Crypto Vision for NYC Faces Spotlight Amid Past Ties to Crypto Exchange OKX
According to Eleanor Terrett, host of Crypto America, Cuomo plans to nominate a Chief Innovation Officer (CIO). The personnel would set up a sweeping innovation agenda combining crypto, synthetic intelligence (AI), and biotechnology beneath a single citywide technique. They would:
- Coordinate tech-focused initiatives throughout metropolis businesses,
- Streamline adoption of recent applied sciences, and
- Attract funding and high-skilled jobs.
The council will advise the town on regulatory adoption, workforce improvement, and decreasing bureaucratic obstacles for emerging industries.
Cuomo’s marketing campaign is pitching the initiative to modernize New York City’s infrastructure and governance, positioning it as a rival to Silicon Valley in innovation and financial competitiveness.
However, as this assertion was made amid marketing campaign euphoria, one can not rule out that Cuomo is anticipated to say something to woo potential voters, very like Trump rode on the crypto narrative main as much as the November 2024 election.
Users additionally query the ability he would wield, even when elected, and whether or not he may train the mandate.
Nevertheless, it’s not possible to disregard that Eric Adams’s exit provides Cuomo a aggressive edge, though he isn’t as vocal a crypto champion as Adams. Still, Cuomo must beat Zohran Mamdani, who maintains a major lead.
Ties to Crypto Run Deep
Meanwhile, this isn’t the primary time the previous governor has been related to the crypto sector, as he has a sophisticated historical past. A Bloomberg report from April revealed that Cuomo served as a paid adviser to the OKX exchange, because it confronted a federal investigation by the FBI and the Southern District of New York.
According to the report, Cuomo suggested the Seychelles-based change on coverage issues and its authorized response to the probe.
Reportedly, Cuomo additionally inspired the corporate to rent Linda Lacewell, his former ally and ex–New York Department of Financial Services superintendent, who has since become OKX’s chief authorized officer.
Cuomo’s spokesperson defended his private-sector work, claiming he has not represented shoppers earlier than a New York City or state company, and routinely recommends certified colleagues for positions.
The investigation culminated earlier this 12 months when OKX settled with the DOJ, paying $504 million for compliance violations and unlicensed US buying and selling.
Cuomo’s deep involvement within the crypto trade may bolster and complicate his political ambitions. On one hand, his expertise with international exchanges provides him credibility in New York’s notoriously complicated regulatory atmosphere.
On the opposite hand, critics might query the optics of his consulting position with a agency that lately confronted felony scrutiny.
Still, Cuomo seems decided to place himself as the one crypto-forward candidate after Adams’s exit from the mayoral race.
His crypto expertise, turning into an asset or a legal responsibility, might hinge on how voters understand New York’s place within the digital future he envisions.
“New York wants somebody who is aware of the way to govern – somebody who can construct coalitions, work throughout variations and lead a metropolis of greater than 300,000 public workers with competence and accountability. Andrew Cuomo has that document. You might not agree with every little thing he’s executed – few leaders are with out controversy – however his skill to ship outcomes is confirmed,” MoonPay president Keith Grossman said.
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