Zokhran Mamdani's victory has jeopardized New York's crypto plans.

# The victory of Zokhran Mamdani has put New York's crypto plans at risk.

Democratic Socialist Zokhran Mamdani won the New York City mayoral election. According to the Associated Press, the candidate received 50.6% of the votes, while his opponent Andrew Cuomo received 41.2%.

Mamdani's rise to power could change the city's crypto policy, which was previously friendly to the industry. Cuomo, on the other hand, proposed creating the position of Director of Innovation to develop blockchain and cryptocurrencies in the city.

According to Rebecca Liao, CEO of the Web3 protocol Saga, cryptocurrency issues are not a priority for Mamdani's voters. She described Cuomo as a “establishment Democrat” who has traditionally defended the tech sector.

The predecessor of the newly elected mayor, Eric Adams, also actively supported digital assets. He received his first three salaries in bitcoin and established a blockchain office.

At the same time, in neighboring New Jersey, Democrat Mikie Sherrill won the gubernatorial election. She received 57% of the votes compared to 42.4% for Republican Jack Ciattarelli.

The Stand with Crypto lobby group called this race important for the industry. The organization stated that it mobilized “crypto voters” who played a key role. According to the group, there are over 80,000 of their supporters living in New Jersey.

Earlier, ForkLog analyzed what Mamdani's rise to power threatens the world's financial capital.