Andrew Cuomo Fighting For Crypto in New York, Will it Matter?

Speaking as a New Yorker, Andrew Cuomo never had a chance. Nobody in NYC likes him. But, with that said, if Cuomo does win he will be New York City’s first crypto mayor.

Innovate NY, a pro-digital assets group, has thrown its support behind former governor Andrew Cuomo in the city’s mayoral race, spending $30,000 on flyers promoting his pro-blockchain stance and calling for a more tech-friendly New York.

Even if Cuomo loses – Polymarket data gives him a 6% chance – this changes everything for crypto in NYC. Here’s how:

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Crypto Enters the Political Arena in New York

Innovate NY’s support for Cuomo is directly do to his support for blockchain innovation and stablecoins, positioning him as the candidate willing to modernize New York’s financial system. The blockchain advocacy group, which has raised about $100,000 from six donors through two shell entities, is registered as an independent spender with the New York City Campaign Finance Board.

Its funding and spending records show that the organization aims to push crypto into the city’s mainstream policy agenda.

“Our platform is about blockchain, tokenization, public-benefit stablecoins, and AI innovation,” Innovate NY stated in its endorsement notice on Tuesday.

cuomo gets it. nyc needs to stop being crypto hostile and start leading

— BasisOS (@BasisOS) October 20, 2025

The group also took aim at Democratic frontrunner Zohran Mamdani, funding materials critical of his perceived anti-business stance.

Will NYC Become a Crypto Hub?

Cuomo, who has positioned himself as an independent candidate, has made digital finance and innovation a key talking point. He argues that integrating blockchain and stablecoins could “cut bureaucracy, increase transparency, and attract investment” to the city’s financial system.

New York’s stance on crypto may be softening. Venture funding for blockchain startups jumped 19% year-over-year in Q3,  hinting that investors still see potential despite the state’s notorious. Still, not that many Americans pay attention to or own cryptocurrencies.

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The big unlock is that crypto is no longer just funding startups, but it’s funding campaigns. PACs like Fairshake are pouring tens of millions into shaping elections, and Innovate NY is taking the fight local.

While Cuomo is set to lose big, major cities in America are starting to pivot towards crypto inclusion and frameworks.

The Bottom Line For New York City Crypto

Crypto has officially entered the New York City mayoral race. Whether Innovate NY’s $30,000 flyer campaign moves the needle remains to be seen, but it’s a start.

The city that gave birth to Wall Street may soon compete to become the capital of blockchain, too. But as with any new financial revolution, the question is whether the city can innovate without losing its footing.

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