Eric Adams dropped out of the New York mayoral race, leaving the city without its most vocal crypto champion. Zohran Mamdani, the clear favorite, has been ambivalent or mildly critical of the industry.

Still, many members of NYC’s crypto community believe that Mamdani won’t be overtly hostile. The industry may lose its biggest supporter, but it could find new opportunities under an ambitious economic agenda.

New York’s Crypto Candidate

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Since Zohran Mamdani’s surprise win in New York City’s mayoral primary, the general election has attracted worldwide attention.

Although crypto policy has not been a huge policy priority for New York’s voters, the industry may have lost its most vocal supporter, as Eric Adams dropped out of the race:

Although Adams is currently NYC’s sitting mayor, he took a loud pro-crypto stance to attract new support. New York still has several laws hostile to crypto on the books, which Adams vowed to combat.

However, Adams saw little success in repealing BitLicense requirements and other regulations over his four years in office.

Evidently, his new enthusiasm for crypto policy was not sufficient to encourage donors or New York voters to support him, especially considering his scandal-ridden administration.

Is Mamdani A Genuine Opponent?

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Author: Landon Manning