Mamdani's victory could change New York's crypto landscape.
Date: 2025-11-06 Author: Henry Casey Categories: IN WORLD
Zohran Mamdani, a Democratic Socialist, won the New York City mayoral election, garnering 50.6% of the vote to his rival Andrew Cuomo's 41.2%, according to the Associated Press. This outcome could significantly impact the future of crypto policy in the city, which under its previous leadership actively promoted innovation in digital assets.
Mamdani's stance raises questions among industry representatives, as he has shown little interest in cryptocurrency issues. According to Rebecca Liao, CEO of the Web3 protocol Saga, financial technology was not a priority for his voters. She noted that Cuomo, on the contrary, represented the traditional Democratic wing, which supports the development of tech businesses.
During his campaign, Cuomo advocated creating a dedicated chief innovation officer in New York City to coordinate work on blockchain and cryptocurrency. Analysts believe Mamdani may take the opposite approach and reduce his focus on this sector.
The previous mayor, Eric Adams, was known for his proactive stance on digital assets. He received part of his salary in Bitcoin and launched a city department dedicated to blockchain issues, making New York one of the most crypto-friendly spots in the United States. Now, this trend may be under threat.
Meanwhile, in neighboring New Jersey, Democrat Mikie Sherrill won the gubernatorial election, garnering 57% of the vote to Republican Jack Ciattarelli's 42.4%. Her success also drew attention from the crypto community.
The lobbying organization Stand with Crypto stated that the New Jersey election was a significant event for the entire industry. According to the group, over 80,000 "crypto voters" live in the state, and they could have a decisive influence on the outcome of the race. The organization emphasized that it actively mobilized its supporters to support candidates favorable to digital assets.
While some experts expect the new New York mayor to cool ardor toward crypto technologies, others believe the sector's economic attractiveness will compel him to embrace the potential of Web3 and blockchain. However, one thing is certain: with Mamdani's arrival, the city could redefine its role as the leading hub of digital finance in the United States.
