New York Could Become a Crypto and AI Powerhouse
Former New York Governor Andrew Cuomo is staging a political comeback—this time betting on crypto, artificial intelligence, and biotechnology. As part of his mayoral campaign, he unveiled an ambitious plan to transform New York City into a “global center of the future,” connecting traditional finance with emerging technologies.
New York as a hub for blockchain, AI, and biotech
According to Crypto in America host Eleanor Terrett, Cuomo plans to establish a new Office of Innovation and appoint a chief innovation officer. The office would attract investment, create jobs, and foster technological growth across industries.
The initiative also includes an Innovation Council, composed of three committees focused on crypto, artificial intelligence, and biotechnology. These committees would advise on technology adoption, workforce development, and reducing bureaucratic barriers for fast-growing industries.
Cuomo is no stranger to the crypto world. He previously served as an advisor to OKX during its federal investigation, which ultimately ended with a guilty plea and a fine exceeding half a billion dollars.
A bridge between Wall Street and crypto
If elected, Cuomo could shift New York from heavy-handed regulation toward a more open policy that attracts the crypto industry rather than deters it. Such a shift could strengthen ties between traditional finance and the crypto world—especially given Wall Street’s status as the heart of global capital.
The NYSE and Nasdaq together hold a market capitalization of over $30 trillion, far surpassing Shanghai’s $8 trillion. Interestingly, current Mayor Eric Adams recently launched the Office of Digital Assets and Blockchain Technology—the first city-level agency of its kind in the U.S. It aims to promote the “responsible use of digital assets and blockchain” and create economic opportunities for New Yorkers.
A political outsider with a tech vision
Adams, who initially planned to seek re-election, withdrew amid political pressure. Cuomo now faces Democrat Zohran Mamdani and Republican Curtis Sliwa.
Mamdani leads in early polls and positions himself as an anti-tech candidate. He rarely comments on crypto, and his views lean significantly to the left of mainstream Democrats.
Gemini co-founder Tyler Winklevoss commented: “It seems things in New York have to get worse before they get better.”
Election to decide the future of crypto in New York
The New York City mayoral election will take place on November 4. The outcome could determine not only the city’s political direction but also whether New York becomes a global hub for cryptocurrencies and innovation—or remains under strict regulatory control.
Sources:
https://x.com/EleanorTerrett/status/1979981713666183455
https://cointelegraph.com/news/andrew-cuomo-seeks-crypto-hub-nyc-mayoral-bid