According to reports, Zohran Mamdani is leading in the polls and is favored to take over from Eric Adams.
Andrew Cuomo is reportedly embracing crypto and AI as key pillars of his campaign in hopes of becoming New York City’s next mayor. According to journalist Eleanor Terrett, Cuomo intends to make New York “a hub for crypto.”
She noted that Cuomo’s proposal includes appointing a Chief Innovation Officer to help transform NYC into a crypto epicenter. Her statement comes on the heels of Eric Adams stepping out of the mayoral race, leaving Cuomo as the only potential crypto-positive contender for New York City’s top job.
Cuomo intends to create an Innovation Council
Terrett posted on X: “The former governor turned mayoral candidate is set to announce plans to create a new Chief Innovation Officer to make NYC ‘the global hub of the future’ if elected.”
She explained the new CIO position would drive a citywide innovation agenda that integrates crypto, AI, and biotech. Its mission would be to align tech initiatives across departments, accelerate adoption of new tools, and bring in high-value investment and jobs.
She added that Cuomo wants to establish an Innovation Council consisting of three advisory bodies for crypto, AI, and biotech to shape policy around regulation, education, and business-friendly reform.
Cuomo actually has a background in crypto, having counseled OKX as it faced a federal probe that ended with the firm pleading guilty and agreeing to pay more than $500 million in fines. If the former governor follows through on his proposals as mayor, the city may replace its reputation for tough enforcement with a more innovation-driven approach.
However, given that his suggestions come in the heat of the campaign, some believe Cuomo may be using pro-crypto rhetoric to win over voters, much as Trump did ahead of the 2024 election. Others are questioning how much real authority he would have to act, even if elected.
Mamdani has not clarified his position on cryptocurrency
New York City Mayor Eric Adams recently concluded his reelection campaign, citing financial struggles and relentless speculation about his future. His exit shakes up the city’s mayoral race only weeks before the November election. Following this development, mayoral candidates Zohran Mamdani and Andrew Cuomo advanced their attacks against each other on the campaign trail, less than a few hours after Mayor Eric Adams’ exit from the race effectively set up a two-man fight in the race’s final days.
In a withdrawal video posted to X, Adams said. “Despite all we’ve achieved, I cannot continue my re-election campaign,” he said, pointing to the Campaign Finance Board’s decision to deny him public matching funds.
Adams, who assumed office in January 2022, swiftly gained national attention as one of the most pro-crypto politicians in America. He famously earned himself a nickname, “Bitcoin Mayor,” after turning his first three paychecks into Bitcoin and Ethereum.
He has consistently committed to making New York the “global capital of cryptocurrency,” pushing blockchain integration in city services. His proposals included using blockchain for municipal recordkeeping, allowing residents to pay fines and taxes in crypto in addition to issuing Bitcoin-backed municipal bonds.
Adams recently created America’s first municipal office dedicated to digital assets and blockchain technology, hoping to promote the use of digital assets. His campaign for the upcoming race had also centered on crypto and innovation, so his exit gives Cuomo a potential advantage, even if Cuomo hasn’t been as outspoken a crypto advocate.
However, Cuomo would need to overcome Democratic Zohran Mamdani, who remains well ahead in the race. According to the New York Times analysis, polls consistently show Zohran Mamdani leading the field and favored to take over from Eric Adams.
Mamdani has said little about cryptocurrency, but his platform is viewed as more progressive than the typical Democratic stance. Crypto executives, including Gemini CEO Tyler Winklevoss, have, however, criticized Mamdani, with Winklevoss saying, “It appears things will have to get worse in NYC before they get better.”
Don’t just read crypto news. Understand it. Subscribe to our newsletter. It’s free.
