New York mayor candidate Cuomo pledges crypto innovation with new role
Quick Take Andrew Cuomo, running for NYC mayor, said he would create the role of Chief Innovation Officer to lead the city’s tech innovation, including crypto and blockchain.
Andrew Cuomo, an independent candidate for mayor of New York City, announced Sunday that his administration would create the role of Chief Innovation Officer to lead blockchain and crypto innovation in the city.
Cuomo said the role, a senior administration position, would work to guarantee that the city supports emerging industries and fosters public-private collaboration by utilizing new technologies.
"The next Mayor must make sure we're [leading] in the technologies that will define the next century — AI, blockchain, and biotech," Cuomo said.
The main tasks of the role involve securing investments and jobs from high-growth industries and innovating the city public services to become more efficient and equipped with new technologies.
The Chief Innovation Officer will be appointed in consultation with an innovation council that consists of leaders of the three emerging technologies. The council will continue to work with the officer after the appointment.
Regarding crypto and blockchain, the council aims to establish New York as the "world capital" for digital finance and decentralized innovation, according to the announcement.
"This includes exploring ways to replace outdated regulations with a modern framework that protects consumers and encourages responsible innovation," the announcement noted.
Current New York Mayor Eric Adams has been pushing for blockchain and digital asset innovation, notably spearheading the city's first crypto summit . Last week, Adams signed an executive order creating an office focused on digital assets and blockchain.
Adams is scheduled to complete his term on Jan. 1, 2026. The next Mayor, who will be elected in the upcoming general election on Nov. 4, 2025, will assume office on that date.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP Pundit: First Thing You Should Do When You Become a Crypto Millionaire
VIPTradFi Focus: Where Does the RWA Market Stand Today?
1. Crypto outperformed traditional equity indexes following the rate hike, but elevated interest rates remain a key constraint on cross-asset allocation. From September 12 to 18, BTC, ETH, and SOL gained 4.83%, 3.84%, and 9.96%, respectively, while the S&P 500 edged down 0.08%. The U.S. Dollar Index rose 1.11%, and the 10-year U.S. Treasury yield closed at approximately 4.998%. Improving risk appetite is therefore coexisting with elevated discount rates, raising the bar for RWA allocation: investors need to compare not only returns on the underlying assets, but also on-chain liquidity and collateral efficiency. 2. Growth in tokenized equities is occurring even as the overall RWA market remains under pressure. As of September 18, Distributed Asset Value across RWAs stood at $38.503 billion, down 1.13% week over week, while tokenized equities reached $3.056 billion, up 6.03%. This week's data are better explained by capital reallocating across different RWA segments than by a broad-based expansion of the entire RWA market. 3. For exchanges, the opportunity lies in connecting spot holdings, collateral, and derivatives. Reality's distributed asset value stands at approximately $155 million, while eligible rTokens can already be used within Bitget's UTA margin framework. Across CoinGlass's verifiable sample of 177 TradFi instruments, open interest reached approximately $11.498 billion, up 2.06% week over week, even as weekly trading volume declined 7.60%. The medium-term opportunity remains intact, but deeper utilization will depend on liquidity, collateral use, and sustained trading activity. 4.Assets to watch: BTC, ETH, SOL, NEAR, ZEC, gold, tokenized U.S. equities, COST. 5.Key metrics to watch: rToken collateral utilization, the durability of TradFi open interest and trading volume, and next week's employment and consumer data.
Gold prices fall Rs 1,331/10 gram, silver dips Rs 1,600/kg as Mideast tensions outweigh oil fall: Key levels to track
Strategists Say Market's ‘Wall of Worry' Is Healthy, Not a Warning Sign
Crypto prices
More
