Is Zohran Mamdani really that bad for New York’s crypto industry?

Zohran Mamdani has made waves after his primary election victory, but what would he mean for the crypto industry in NYC?

Zohran Mamdani won the New York mayoral primary election on June 24, which has since caused a stir among the crypto industry’s upper crust.

Mamdani will face off against incumbent Mayor Eric Adams in November, and it’s clear that many in the crypto industry are uneasy about the prospect of a Mamdani victory. Executives and pro-crypto government officials alike have decried his policy proposals, with critics equating his left-leaning policies to Soviet collectivism.

Mamdani laid out many specific policy positions, several of which were further left than the Democratic Party norm, but he has remained relatively silent on cryptocurrency. His opponent, Adams, in contrast, is promoting it at great length.

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