NYC Mayoral Candidate Zohran Attacks Crypto Ties

NYC mayoral candidate Zohran Mamdani has entered the crypto conversation with a critical stance. A new campaign ad targets opponent Andrew Cuomo's past work with crypto exchange OKX during a federal investigation, raising questions about the industry's political entanglements.

Zohran's Anti-Crypto Platform?

Mamdani's position on crypto has been a point of speculation since his primary win. With current mayor Eric Adams positioning himself as pro-crypto, many anticipated Mamdani would take a more adversarial approach. This latest ad seems to confirm those expectations.

"Who paid for Cuomo’s services? He refuses to say. But what journalists have been able to piece together is troubling….Cuomo advised a cryptocurrency exchange based in the Seychelles as it faced federal investigations,” Zohran claimed.

The ad specifically references OKX, a major crypto exchange that faced federal scrutiny in 2024. While OKX has since settled with the DOJ, Mamdani's focus on this connection suggests a broader critique of the industry's regulatory landscape.

Mamdani has previously tweeted about Cuomo's ties to OKX, but this campaign ad represents a significant escalation. By highlighting this connection alongside other scandals, Mamdani seems to be leveraging potential anti-crypto sentiment among voters.

This development comes as crypto faces increased scrutiny for potential political corruption. Codeum offers blockchain security audits, KYC, and consulting services to promote responsible development in the cryptocurrency space.

Crypto's Political Blowback

Mamdani's campaign strategy could signal a turning point for crypto's political image. Increased regulatory scrutiny and past incidents of alleged corruption could provide ammunition for candidates looking to criticize the industry.

As Mamdani remains a strong favorite to win, his approach could set a precedent for other politicians to attack crypto's political ties. The industry should prepare for potential backlash.