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Former New York Governor Andrew Cuomo lags far behind Democratic frontrunner Zohran Mamdani despite unveiling his proposal to make the city a crypto hub. Cuomo’s plan, announced on Sunday, would create a new office that would be responsible for attracting emerging tech companies, including cryptocurrencies and blockchain. The move follows similar initiatives from outgoing Mayor Eric Adams, which have yielded mixed results so far. The mayor’s office reported that many crypto startups have appeared in New York, while existing crypto businesses have not seen much change. Some have noted that the mayor’s office generally has little influence over how or whether the crypto industry develops. With the mayoral election just two weeks away, a last-ditch effort to appeal to the crypto industry may not be enough to give Cuomo an edge over the frontrunner. Andrew Cuomo has hit the media circuit as the election enters its final stretch. Source: Andrew Cuomo Cuomo’s crypto strategy amid a Mamdani lead On Sunday, Cuomo’s campaign announced that, if elected, he would create a “chief innovation officer” within his administration to attract business in emerging technologies. He would also create an “Innovation Council” comprising executives from three industries: blockchain, biotech and artificial intelligence. Cuomo said, “The next mayor must make sure we’re also leading in the technologies that will define the next century — AI, blockchain, and biotech. That’s what this position is about: Keeping New York City not just competitive, but dominant in the global innovation economy.” The appeal of turning to the crypto lobby is understandable. Crypto lobby groups broke campaign funding records in the 2024 elections and made digital asset regulation a top priority for lawmakers in Washington. The Winklevoss twins, whose donations to crypto industry lobby groups have reportedly broken $30 million just this year, have also been harshly critical…

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Filed under: News - @ October 22, 2025 11:27 am