Crypto Under Mamdani’s Socialist New York – Good or Bad?
The post Crypto Under Mamdani’s Socialist New York – Good or Bad? appeared on BitcoinEthereumNews.com.
New York City has made its mayoral choice. It’s 34-year-old State Assemblyman Zoltan Mamdani, a Democrat who seemingly came out of nowhere over the summer to triumph over Andrew Cuomo. Mamdani’s path to the top seat in America’s most populous city came with promises of affordable rents, free buses, and universal childcare. Funding for all of this is expected to come from raising taxes on the wealthy. So, what does all this mean for crypto in NYC, a US hub for blockchain technology? Sponsored A New Mayor For The NYC Crypto Hub Mamdani, born and raised in Kampala, Uganda, moved to New York City with his family at the age of seven, becoming a US citizen in 2018. A number of prior NYC mayors have been immigrants – over two dozen, in fact. Running as a Democrat, Mamdani faced off against former Governor Andrew Cuomo from his own party in the race. Overall, Mamdani ended up with half of the total votes, with Cuomo finishing with about 40%. Starting at 1% in the polls, @ZohranKMamdani pulled off one of the great political upsets in modern American history. Yes. We CAN create a government that represents working people and not the 1%. I look forward to working with Zohran as he builds a city that works for all. pic.twitter.com/dHUP6Yo5xv — Bernie Sanders (@BernieSanders) November 5, 2025 Sponsored Cuomo’s policy promises didn’t offer the splash Mamdani’s did by targeting the little guy who’s felt left out. “NYC already styles itself as a hub for digital assets and blockchain innovation,” noted Hedy Wang, CEO of crypto liquidity provider Block Street. “Under a fresh administration eager to rework economic policy, Mamdani might push for more inclusive fintech growth, supporting smaller firms and startups rather than just big players.” Prediction market chart of New York…
Filed under: News - @ November 6, 2025 7:34 pm