According to reports, former New York Governor Andrew Cuomo is heavily betting on cryptocurrency and AI in his campaign for the next mayor.
Eleanor Terrett, co-host of "Crypto in America," stated on Saturday that the New York City mayoral candidate plans to transform New York City into a "global center of the future" by coordinating initiatives in the blockchain, AI, and biotechnology industries and modernizing the city's integration of new technologies.
She mentioned that this will also include the creation of a new Chief Innovation Officer position aimed at attracting more investment and job opportunities to promote innovation.
Terrett cited informed sources who added that an Innovation Committee will be established, with three advisory committees focused on cryptocurrency, AI, and biotechnology, "to provide advice on the adoption of these emerging industries, workforce development, and streamlining regulations."
Cuomo has experience in cryptocurrency, having provided federal investigation consulting for the cryptocurrency exchange OKX, which ultimately led to OKX pleading guilty to multiple violations and agreeing to pay over $500 million in fines and penalties.
If Cuomo is elected and implements the plans reported, New York City could shift from a regime characterized by ruthless enforcement actions to one that attracts and retains more industry talent, positioning itself at the forefront of financial innovation.
This could also strengthen the bridge between traditional finance and cryptocurrency, guiding more funds into the cryptocurrency market, as Wall Street holds the largest concentration of capital on the planet.
The market capitalization of the New York Stock Exchange and Nasdaq exceeds $30 trillion—far surpassing the approximately $8 trillion market capitalization of the Shanghai Stock Exchange, which ranks third.
Current New York City Mayor Eric Adams has already taken action by establishing the first municipal digital assets and blockchain technology office in the U.S. last Tuesday.
"This office will promote the responsible use of digital assets and blockchain technology, create economic opportunities for New Yorkers, attract world-class talent, and solidify the city's position as a global financial and technological innovation hub," his office stated.
Adams initially sought re-election but withdrew from the race after facing increasing political pressure to step down last month.
Cuomo is competing against anti-tech Democrat Zohran Mamdani and Republican Curtis Sliwa to replace Adams as the new mayor, with voting scheduled for November 4.
Data from The New York Times shows that Mamdani is a popular candidate to replace Adams, leading in nearly all polls tracking the campaign.
While Mamdani has been relatively silent on cryptocurrency issues, his policy positions are widely regarded as "more left" than the Democratic norm.
Mamdani has faced criticism from several leaders in the cryptocurrency industry, including Gemini CEO Tyler Winklevoss, who remarked amid Mamdani's rising popularity, "It seems like New York City has to get worse before it can get better."
Related: Bank of Ghana commits to introducing cryptocurrency regulatory legislation before December
Original article: “New York City mayoral candidate Andrew Cuomo plans to build a cryptocurrency capital”
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