Andrew Cuomo’s crypto Hail Mary unlikely to give an edge over Mamdani

Former New York Governor Andrew Cuomo introduced a plan to make New York City a crypto hub by creating a "chief innovation officer" and an "Innovation Council" focused on emerging technologies like blockchain, AI, and biotech. This move, coming late in the mayoral race, appears to be a last-ditch effort to appeal to the crypto industry, which has seen significant lobbying efforts, including financial support from figures like the Winklevoss twins who strongly oppose his opponent, Zohran Mamdani. However, Cuomo trails Mamdani significantly in polls, with cost of living being the top concern for voters, not crypto. Furthermore, the article notes that the mayor's office has limited influence over financial regulation, which is largely determined at the state and federal levels, suggesting that even if Cuomo wins, his ability to drastically alter the crypto landscape may be constrained, similar to the mixed results seen under outgoing Mayor Eric Adams' crypto-friendly initiatives.

(Source：Cointelegraph)