Former New York Governor and current mayoral candidate Andrew Cuomo is pledging to transform New York City into the global hub of the future.

The remarks come only weeks after Eric Adams exited the race, leaving Cuomo as the only crypto-forward candidate running for the NYC mayor’s office.

Cuomo’s Crypto Vision for NYC Faces Spotlight Amid Past Ties to Crypto Exchange OKX

According to Eleanor Terrett, host of Crypto America, Cuomo plans to appoint a Chief Innovation Officer (CIO). The personnel would establish a sweeping innovation agenda combining crypto, artificial intelligence (AI), and biotechnology under a single citywide strategy. They would:

• Coordinate tech-focused initiatives across city agencies,

• Streamline adoption of new technologies, and

• Attract investment and high-skilled jobs.

The council will advise the city on regulatory adoption, workforce development, and reducing bureaucratic barriers for emerging industries.

Cuomo’s campaign is pitching the initiative to modernize New York City’s infrastructure and governance, positioning it as a rival to Silicon Valley in innovation and economic competitiveness.

However, as this statement was made amid campaign euphoria, one cannot rule out that Cuomo is expected to say anything to woo prospective voters, much like Trump rode on the crypto narrative leading up to the November 2024 election.

Users also question the power he would wield, even if elected, and whether he could exercise the mandate.

Nevertheless, it is impossible to ignore that Eric Adams’s exit gives Cuomo a competitive edge, although he is not as vocal a crypto champion as Adams. Still, Cuomo would have to beat Zohran Mamdani, who maintains a significant lead.

New York Mayoral Election Polls. Source: Polymarket

Ties to Crypto Run Deep

Meanwhile, this is not the first time the former governor has been associated with the crypto sector, as he has a complicated history. A Bloomberg report from April revealed that Cuomo served as a paid adviser to the OKX exchange, as it faced a federal investigation by the FBI and the Southern District of New York.

According to the report, Cuomo advised the Seychelles-based exchange on policy matters and its legal response to the probe.

Reportedly, Cuomo also encouraged the company to hire Linda Lacewell, his former ally and ex–New York Department of Financial Services superintendent, who has since become OKX’s chief legal officer.

Cuomo’s spokesperson defended his private-sector work, claiming he has not represented clients before a New York City or state agency, and routinely recommends qualified colleagues for positions.

The investigation culminated earlier this year when OKX settled with the DOJ, paying $504 million for compliance violations and unlicensed US trading.

Cuomo’s deep involvement in the crypto industry could bolster and complicate his political ambitions. On one hand, his experience with global exchanges gives him credibility in New York’s notoriously complex regulatory environment.

On the other hand, critics may question the optics of his consulting role with a firm that recently faced criminal scrutiny.

Still, Cuomo appears determined to position himself as the only crypto-forward candidate after Adams’s exit from the mayoral race.

His crypto experience, becoming an asset or a liability, may hinge on how voters perceive New York’s place in the digital future he envisions.

“New York needs someone who knows how to govern – someone who can build coalitions, work across differences and lead a city of more than 300,000 public employees with competence and accountability. Andrew Cuomo has that record. You may not agree with everything he’s done – few leaders are without controversy – but his ability to deliver results is proven,” MoonPay president Keith Grossman said.