Crypto Voters Eye New York Mayor Race After Mamdani's 43.5% Primary Win

Crypto voters are setting their sights on the upcoming mayoral election in New York City, viewing it as a pivotal battleground for the future of the crypto industry. The Democratic Party's candidate, Zohran Mamdani, secured a significant victory in the primary, capturing 43.5% of the vote. This win positions him against a diverse field of candidates, including Republican Curtis Sliwa, current Mayor Eric Adams, and former Governor Andrew Cuomo, who is expected to run as an independent after his primary loss.

Mamdani's victory is notable because, unlike his opponents, he has not taken a favorable stance on the crypto industry. Current Mayor Eric Adams, who first ran for mayor in 2021, has been a vocal supporter of crypto. He accepted his first three paychecks in Bitcoin, spoke at crypto conferences, proposed Bitcoin-backed municipal bonds, and hosted a digital asset summit at the mayoral residence. Adams' pro-crypto stance has been a significant part of his political image, and his policies have been influential in shaping New York City's approach to digital assets.

Curtis Sliwa, who ran against Adams in 2021, also made several pro-crypto promises during his campaign. He pledged to install more crypto ATMs in the city and create a reward-based program for local businesses to accept digital assets. Sliwa's pro-crypto stance was part of his broader appeal to the growing crypto population in the city.

Andrew Cuomo, who served as an adviser for crypto exchange OKX in 2021, has also been involved in the crypto industry. His role with OKX came under scrutiny as United States authorities investigated the company for operating a licensed money-transmitting business. Mamdani has criticized Cuomo's involvement, highlighting his past controversies and his role with the exchange.

Since his primary win, Mamdani has faced opposition from prominent figures in the crypto industry. Gemini co-founder Cameron Winklevoss and his brother Tyler have hinted at getting involved in the mayoral race to support a candidate who could defeat Mamdani. The Winklevoss brothers have a history of political involvement, having pledged millions of dollars to Donald Trump's presidential campaign in 2024. Bitcoin proponent Anthony Pompliano and hedge fund manager Bill Ackman have also expressed their opposition to Mamdani, suggesting that significant financial backing could be available for a candidate who could challenge him.

The outcome of the mayoral election could have far-reaching implications for New York City's crypto policies. As one of the biggest business centers in the United States, New York City is home to several prominent crypto firms, including Gemini crypto exchange, payments company Moonpay, and stablecoin issuers Paxos and Circle. The city's approach to crypto and blockchain technology will likely influence the broader industry, making the mayoral election a critical moment for crypto voters.