Innovate NY, a self-described “pro-digital assets” political organization funded with about $100,000 ahead of the New York City mayoral election, has backed independent candidate and former state Governor Andrew Cuomo.
In a Tuesday notice, Innovate NY endorsed Cuomo for mayor, the race for which is already in the middle of early voting. The political group cited an agenda that included “blockchain, tokenization, public-benefit stablecoins, and artificial intelligence.”
The organization, registered as an independent spender with the New York City Campaign Finance Board, was funded with $99,500 from six individuals through two companies as of Wednesday.
According to expenditure records, Innovate NY spent $30,000 on a flyer to support Cuomo and oppose Democratic candidate Zohran Mamdani, who is currently leading in many polls against the former New York governor.
Part of a flyer funded by Innovate NY on Friday. Source: New York City Campaign Finance Board
New York City’s mayoral race has drawn attention from many in the crypto industry due to its potential impact on companies operating in the US’ biggest economic hub. Voters will choose between frontrunners Mamdani, Cuomo and Republican candidate Curtis Sliwa on Nov. 4.
Related: NYC mayor establishes digital assets and blockchain office
In the final weeks of his campaign, Cuomo made a push to crypto-minded New York voters, pledging to set up an Innovation Council with advisory committees for crypto, AI and biotech if elected. Mamdani, leading in the polls against Cuomo, has largely avoided making digital assets a part of his campaign and instead focused on cost-of-living concerns, including childcare and affordable housing.
Mayor Eric Adams’ final crypto push
Eric Adams, who has served as New York City Mayor since 2022, made a significant move toward advocating for crypto and blockchain policies in his final year in office.
While mayor, he hosted a crypto summit, established a digital advisory council, called for the city to create Bitcoin-backed bonds and recently signed an executive order to establish a digital assets and blockchain office.
Adams announced in September that he would not run for reelection after initially campaigning and receiving support from crypto entrepreneur Brock Pierce. Whoever wins the mayoral race will take over from Adams on Jan. 1, 2026.
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