Democratic Socialist Zokhran Mamdani has won the New York City mayoral election. According to the Associated Press, the candidate secured 50.6% of the vote, while his opponent Andrew Cuomo garnered 41.2%.
Mamdani’s rise to power could alter the city’s previously crypto-friendly policies. In contrast, Cuomo had proposed creating a Chief Innovation Officer position to advance blockchain and cryptocurrency in the city.
According to Rebecca Liao, CEO of the Web3 protocol Saga, Mamdani’s voters do not prioritize cryptocurrency issues. She described Cuomo as an “establishment Democrat” who traditionally supported the tech sector.
The newly elected mayor’s predecessor, Eric Adams, also actively supported digital assets. He received his first three paychecks in Bitcoin and established a blockchain office.
Meanwhile, in neighboring New Jersey, Democrat Mikie Sherrill won the gubernatorial race. She secured 57% of the vote against Republican Jack Ciattarelli’s 42.4%.
The lobbying group Stand with Crypto called this race significant for the industry. The organization claimed to have mobilized “crypto voters” who played a key role. According to the group, over 80,000 of their supporters reside in New Jersey.
Previously, ForkLog explored the implications of Mamdani’s rise to power for the world’s financial capital.