Zohran Mamdani, the Democratic candidate for New York City mayor, won the primary election and is now set to face several candidates with notable positions on cryptocurrencies and blockchain.
Mamdani's Primary Victory
On Monday, Mamdani defeated former New York Governor Andrew Cuomo with 43.5% of the vote in New York City’s Democratic primary. This victory places him in competition with Republican candidate Curtis Sliwa, current NYC Mayor Eric Adams, and Cuomo, who reportedly will run as an independent candidate after the primary loss.
Opposition from Crypto Advocates
Since his primary win, Mamdani has faced public opposition from significant figures in the crypto industry, including Gemini co-founder Cameron Winklevoss. Tyler Winklevoss also suggested providing financial support for a candidate to defeat Mamdani. Hedge fund manager Bill Ackman indicated that millions of dollars are available to back a competitor to Mamdani in the general election.
Impact of the Mayor on NYC's Crypto Policies
Whoever wins the November election could significantly influence the crypto policies of New York City. As a major business center in the U.S., the city is home to several crypto firms. The future mayor could apply political pressure to the state's legislature regarding the BitLicense requirements introduced in 2015.
The upcoming New York City mayoral election in November could fundamentally alter the city’s relationship with the cryptocurrency industry, with implications for both local residents and the wider ecosystem.
