Zohran Mamdani, the Democratic Party candidate for the mayor of New York City, will face a field of candidates in November, including those who have earlier earned a strong position in Crypto and Blockchain.
On Tuesday, Mamdani lost Former New York Governor Andrew Cuomo with 43.5% of the Votes in Democratic New York City. The success will be the member of the New York State Assembly in the competition with Republican candidate Curtis Sliwa, current NYC Mayor Eric Adams, and Cuomo, who have been reported to run as an independent candidate following the main loss.
Aside from Mamdani, all major candidates have previously held positions that favor the cryptocurrency industry.
Adams first ran for Mayor as a Democrat in 2021, saying he would accept his first three salaries in Bitcoin (Btc). He went to speak to crypto conferences, proposed bonds supported by the Municipal BTC and held a digital asset summit at the mayoral residence.
Sliwa, even if it falls behind the mamdani according to many polls, run against Adams in 2021 at the pro-crypto campaign messaging. His platform includes plans to open more Crypto ATMs in New York City and incentive to local businesses to accept digital assets.
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Meanwhile, Cuomo reported Cryptocurrency Exchange Okx In 2021 because US authorities tried the company for running an unlicensed business that sends money. The exchange ended with paying $ 505 million to the fine and penalty.
Mamdani criticized Cuomo’s involvement in the exchange. “Andrew Cuomo may have spent the years since his resignation changes and helps New Yorkers,” he he he Says In a post of April 2 x. “Instead she scolded women who spoke about her serial harassment, fought to keep millions of books … and advised a foreign crypto exchange that destroyed US law.”
Mamdani faces opposition from crypto numbers
Since his main win, Mamdani faces public opposition from significant figures in the crypto industry, including Gemini co-founder Cameron Winklevoss. Tyler winklevoss din Floating The “Get (Ting) idea involved in the NYC Mayor Race,” suggests financial support for a candidate to defeat Mamdani.
Both brothers were involved in the 2024 United States presidential election, Pledging millions of dollars To make Donald Trump’s campaign a campaign. Anthony “POMP” Pompliano, a proponent of Bitcoin and the founder and CEO of Professional Capital Management, which is also attend a Trump campaign event In New York City, Called in New Yorkers to oppose Mamdani.
Hedge Bill Ackman’s fund manager, with a reported net worth more than $ 9 billion, also suggested That he will return any candidate with the opportunity to defeat Mamdani in the general election:
“(T) Here is the way -millions of capital dollars available to back a Mamdani competitor who can come together overnight (…) so that a good alternative candidate does not spend any time raising funds. So, if the right candidate raises his hand open, the funds will be poured.”
Cointelegraph reached Mamdani’s campaign for the comment but did not receive a response at the time of publication.
What effect does a NYC mayor impact on the global crypto industry?
Anyone who wins the November election may have a significant impact on New York City crypto policies. As one of the largest business centers in the United States, the city is the headquarters of many crypto companies, including Stablecoin releases Paxos and Circle, Cryptocurrency Exchange Gemini, and MoonPay’s payment company.
“Whether you’re in Crypto, Blockchain, Web3 or the FinTech space, New York City is open for business,” Mayor Adams says on May 12.
At the state level, New York’s financial service department requires businesses that offer crypto-related services and products to apply for a bitlicense since 2015. Although many have criticized the licensing program – Includes Adams – Any NYC’s future mayor seeking change is likely to apply only political pressure to state lawmakers.
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