Zohran Mamdani Wins NYC Mayoral Race, Defeating Cuomo Despite Crypto Push

Democratic socialist Zohran Mamdani has been elected the next mayor of New York City, defeating former New York Governor Andrew Cuomo, who had recently campaigned on a platform promising to turn the city into a hub for blockchain and crypto innovation.

According to the Associated Press, Mamdani secured 50.6% of the vote, while Cuomo trailed with 41.2%, and Republican candidate Curtis Sliwa finished a distant third.

Cuomo, running as an independent after losing the Democratic primary to Mamdani earlier this year, had proposed creating a Chief Innovation Officer role to spearhead crypto and blockchain policy in the city. The position, he said, would ensure that New York supports emerging technologies and encourages public-private collaboration to foster innovation.

Rebecca Liao, co-founder and CEO of Saga, a web3 and AI protocol company described Cuomo as an established democrat aiming to balance innovation and regulation

“Establishment Democrats have traditionally had a strong relationship with the tech sector and want to find ways to promote it.”

Despite Cuomo’s pro-innovation stance, analysts say crypto failed to resonate with Mamdani’s base. “For Mamdani, crypto isn’t a big enough issue for his core demographic,” Liao noted.

Adams’ Exit Leaves a Gap in NYC’s Crypto Agenda

Cuomo’s campaign came on the heels of Mayor Eric Adams’ withdrawal from the race in September due to financial and media pressures. Adams, one of the most pro-crypto mayors in the U.S., made headlines in 2022 for taking his first three paychecks in Bitcoin and for signing an executive order establishing the nation’s first-ever mayoral Office of Digital Assets and Blockchain last October.

With Mamdani’s victory, New York City may see a shift in tone on crypto policy — from active promotion to a more cautious or indifferent stance.

Meanwhile, across the Hudson, crypto advocacy group Stand With Crypto said it mobilized thousands of voters in New Jersey’s gubernatorial race, where Democrat Mikie Sherrill defeated Republican Jack Ciattarelli with 57% of the vote.

“New Jersey is home to more than 80,000 Stand With Crypto advocates — nearly the margin of victory in the last governor’s race.”

Sherrill, who earned an ‘A’ rating from the group for her pro-crypto voting record, previously supported several digital asset bills in Congress. Ciattarelli was not formally scored but had expressed support for mainstreaming crypto in a post on X earlier this year.

While crypto wasn’t a defining issue in Tuesday’s elections, its growing political footprint is becoming harder to ignore. From Cuomo’s innovation pitch to Sherrill’s pro-crypto platform, blockchain policy is increasingly emerging as a new fault line in U.S. politics — one that could shape how cities and states engage with the next wave of digital innovation.