Andrew Cuomo, a former New York governor turned mayoral candidate, has pivoted to crypto to beat frontrunner Zohran Mamdani. Cuomo has pledged to make the city a “global hub of the future.”
In a Sunday announcement, Cuomo announced that his administration would create a new Chief Innovation Officer role to spearhead the city’s tech and crypto innovation.
His proposal comes days after the current mayor, Eric Adams, established the “nation’s first-ever” municipal office for crypto and blockchain. He appointed crypto policy expert Moises Rendon to lead the office as executive director.
Additionally, Adams had previously accused Cuomo of dismantling the crypto industry through hostile policies. Last month, Adams withdrew from the mayoral race, ending his re-election campaign, citing financial struggles.
Andrew Cuomo noted that the CIO is “a senior administration position” and would work to support emerging industries such as AI and blockchain.
Besides, the role will also be responsible for fostering public-private collaboration and helping the city’s public sector harness new technologies.
“The next Mayor must make sure we’re also leading in the technologies that will define the next century — AI, blockchain, and biotech,” said Cuomo.
Further, an Innovation Council, comprising leaders from the three emerging tech fields – crypto, AI and biotech, will be established to advise the CIO on policy developments and consumer protection.
“That’s what this position is about: Keeping New York City not just competitive, but dominant in the global innovation economy. I’m excited for the future.”
The Council for crypto and blockchain will explore ways to “replace outdated regulations with a modern framework,” the announcement read.
Adam’s exit has left New York politics without one of the pro-crypto leaders in elected office. With voting scheduled to take place on Nov. 4, the City Hall is skeptical whether it would continue to embrace digital assets or take a more cautious path.
On the other hand, Democrat Zohran Mamdani, the mayoral hopeful, has been relatively silent on crypto. Major crypto figures like Gemini crypto exchange co-founder Tyler Winklevoss, as well as US AI and crypto czar David Sacks, have spat criticism in light of Mamdani’s rising popularity.
Winklevoss called New York City a “broken kleptocracy.” He added that “things will have to get worse in NYC before they get better.”
Sacks called on Silicon Valley to “wake up” to the rising communism in New York.
Although the Polymarket poll on NYC mayoral election shows only 7% chance for Andrew Cuomo, his involvement in the crypto industry would give him credibility in New York’s complex regulatory environment.
