Andrew Cuomo Vows to Make New York City the Global Hub for Crypto and Innovation

Former New York Governor and current mayoral hopeful Andrew Cuomo has unveiled an ambitious plan to transform New York City into a leading global center for cryptocurrency, AI, and biotechnology. His vision comes just weeks after Eric Adams dropped out of the race, positioning Cuomo as the only crypto-friendly candidate vying for the mayor’s seat.

According to Eleanor Terrett of Crypto America, Cuomo intends to appoint a Chief Innovation Officer (CIO) to spearhead a citywide innovation strategy. This role would integrate crypto, artificial intelligence, and biotech initiativesacross government agencies, streamline the adoption of emerging technologies, attract top talent, and encourage foreign and domestic investment. The initiative aims to cut through bureaucratic red tape, making New York a serious contender against Silicon Valley in the race for technological dominance.

Despite his forward-looking agenda, critics argue that Cuomo’s campaign promises may be politically motivated, echoing Donald Trump’s pro-crypto rhetoric during the 2024 elections. Questions also linger about how much real authority Cuomo could exercise as mayor over citywide crypto policies.

Adding to the complexity, Cuomo’s ties to the crypto exchange OKX have resurfaced. A Bloomberg report revealed he worked as a paid adviser to OKX during a federal investigation by the FBI and the Southern District of New York. Cuomo reportedly guided the exchange on compliance issues and recommended Linda Lacewell, his former financial regulator ally, as OKX’s chief legal officer.

While Cuomo’s experience gives him credibility within the crypto sector, it also invites scrutiny due to OKX’s recent $504 million settlement with the DOJ. As the race heats up, Cuomo’s crypto credentials could either strengthen his reformist image or raise ethical concerns. Still, supporters like MoonPay president Keith Grossman highlight Cuomo’s proven ability to govern, calling him a results-driven leader ready to guide New York into its digital future.