News/Cointelegraph/Crypto enthusiasts are keenly watching the upcoming New York City mayoral race, where candidate Zohran Mamdani, representing the Democratic Party, is set to face off against contenders with significant ties to the crypto and blockchain world.
After securing a win against ex-New York Governor Andrew Cuomo in the Democratic primary on Tuesday, Mamdani, a member of the New York State Assembly, will be competing against Republican candidate Curtis Sliwa, incumbent NYC Mayor Eric Adams, and allegedly Cuomo himself, who is said to be running as an independent following his primary defeat.
Interestingly, all major candidates, apart from Mamdani, have expressed support for the cryptocurrency industry in the past. Adams, who first ran for mayor in 2021, even committed to accepting his first three salaries in Bitcoin (BTCUSD) and has been a vocal proponent of crypto, advocating for BTC-backed municipal bonds and hosting a digital asset summit at the mayoral mansion.
Despite trailing in the polls, Sliwa ran a pro-crypto campaign in 2021, with promises to increase the number of crypto ATMs throughout New York City and encourage local businesses to accept digital assets.
Cuomo, on the other hand, reportedly provided advisory services to cryptocurrency exchange OKX in 2021, during a period when the company was under investigation by US authorities for running an unlicensed money-transmitting business. The exchange was ultimately fined $505 million. Mamdani has publicly criticized Cuomo’s association with the exchange.
Since his primary victory, Mamdani has faced opposition from notable figures in the crypto industry, including Gemini co-founder Cameron Winklevoss. His brother Tyler Winklevoss even suggested financially supporting a candidate who could defeat Mamdani.
The outcome of the November election could significantly impact New York City’s crypto policies. As a major business hub in the US, the city is home to several crypto firms, including stablecoin issuers Paxos and Circle, cryptocurrency exchange Gemini, and payments company MoonPay. Regardless of the criticism, any future NYC mayor looking to bring about change would likely only be able to exert political pressure on the state’s legislators.
