{"id":15304,"date":"2025-11-05T20:14:14","date_gmt":"2025-11-05T20:14:14","guid":{"rendered":"https:\/\/bitunikey.com\/news\/new-york-will-be-fine-crypto-community-reacts-to-mamdanis-victory\/"},"modified":"2025-11-05T20:14:21","modified_gmt":"2025-11-05T20:14:21","slug":"new-york-will-be-fine-crypto-community-reacts-to-mamdanis-victory","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/new-york-will-be-fine-crypto-community-reacts-to-mamdanis-victory\/","title":{"rendered":"\u2018New York will be fine\u2019: Crypto community reacts to Mamdani\u2019s victory"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">On Nov. 4, Democratic Party candidate Zohran Mamdani won the New York City mayoral election, beating ex-New York state governor Andrew Cuomo and GOP favorite Curtis Sliwa. <\/p>\n<p class=\"is-style-default\">Mamdani is not an outspoken opponent of cryptocurrencies. Neither is he a prominent ally. However, the crypto community flooded X with commentary on Mamdani\u2019s victory, voicing support, rage, and indifference.<\/p>\n<div id=\"cn-block-summary-block_a7f1e75a4a2050bb7174aa48b973decf\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Mamdani is championing making New York an affordable city for working-class families. His platform includes freezing rents, setting free buses, and building affordable housing.<\/li>\n<li>Another staple of his campaign is increasing taxes for the rich and corporations. <\/li>\n<li>Given that NYC is a home for nearly 350,000 millionaires, critics speculate that Mamdani\u2019s victory may trigger an exodus in favor of a softer jurisdiction.<\/li>\n<li>Mamdani has been silent about cryptocurrencies. He has mostly mentioned them while criticizing Cuomo. However, crypto X met the news of Mamdani\u2019s victory with lots of strong opinions and a bit of support.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<h2 class=\"wp-block-heading\">Mamdani\u2019s victory<\/h2>\n<p>Over a million of the eight million New Yorkers voted for Zohran Mamdani, a 34-year-old democratic socialist, following the footsteps of Vermont Sen. Bernie Sanders. Mamdani became the first Muslim to head the city office. While he was a little-known figure in politics prior to President Trump\u2019s victory in November 2024, Mamdani managed to rally young voters.\u00a0<\/p>\n<p>According <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.nytimes.com\/interactive\/2025\/11\/05\/nyregion\/nyc-mayor-election-results-mamdani-cuomo.html\" target=\"_blank\" rel=\"nofollow\">to<\/a> the New York Times, Mamdani carried precincts where the median registered voter\u2019s age was 45 or younger, beating Cuomo by 30 percentage points. <\/p>\n<p>He also visited districts with anomalously high percentages of Trump votes in the 2024 Presidential election (Queens and the Bronx, etc.) and asked residents why they voted for Trump. The common thread? Costs of living and affordability. Both became the focal points of Mamdani\u2019s platform. <\/p>\n<p>Mamdani\u2019s viral political <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/@zohran_k_mamdani\/video\/7429761991109135658\" target=\"_blank\" rel=\"nofollow\">TikTok<\/a> and Instagram videos also <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.theguardian.com\/us-news\/2025\/sep\/20\/zohran-mamdani-social-media-viral-videos\" target=\"_blank\" rel=\"nofollow\">helped<\/a>. One video <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=Q5e6ihnji-M\" target=\"_blank\" rel=\"nofollow\">captured<\/a> Mamdani\u2019s walking the length of Manhattan, speaking to the residents a few days before the Democratic primary in June.\u00a0<\/p>\n<p>As the first South Asian to head New York, Mamdani has been advocating for the interests of the minorities. In his victory speech on Tuesday night, Mamdani claimed that \u201cNew York will remain a city of immigrants, a city built by immigrants, powered by immigrants. And as of tonight, led by an immigrant.\u201d <\/p>\n<p>On several occasions during his campaign, Mamdani <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.tiktok.com\/@zohran_k_mamdani\/video\/7567854614368816415\" target=\"_blank\" rel=\"nofollow\">addressed<\/a> his potential voters from national diasporas living in New York in their native tongues.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">NEW: NYC Mayor-elect Zohran Mamdani challenges President Trump in his victory speech:<\/p>\n<p>\u201cNew York will remain a city of immigrants, a city built by immigrants, powered by immigrants. And as of tonight, led by an immigrant.\u201d<\/p>\n<p>\u201cSo hear me, President Trump, when I say this: To get\u2026 <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/L0tOS5Ddnr\">pic.twitter.com\/L0tOS5Ddnr<\/a><\/p>\n<p>\u2014 Fox News (@FoxNews) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/FoxNews\/status\/1985934103040954468?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">November 5, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Mamdani promised to make city buses free, build affordable houses, and freeze rents. New York <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.visualcapitalist.com\/u-s-cities-with-the-highest-cost-of-living\/\" target=\"_blank\" rel=\"nofollow\">ranks<\/a> as the most expensive city in the U.S. <\/p>\n<p>These and other issues from <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.zohranfornyc.com\/platform\" target=\"_blank\" rel=\"nofollow\">his platform<\/a> drew scrutiny, with critics <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.theatlantic.com\/ideas\/archive\/2025\/06\/zohran-mamdani-mayoral-candidate-nyc\/683215\/\" target=\"_blank\" rel=\"nofollow\">blasting<\/a> Mamdani\u2019s program as unrealistic. <\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">To everyone saying NYC won&#8217;t change, some prognostications from someone who saw this movie in SF:<\/p>\n<p>1. It&#8217;ll be crime season: unfettered shoplifting, car break-ins, assaults, all of it. <br \/>2. The wealthy will insulate themselves via security and private spaces, and the working class\u2026 <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/sV2QD5s2hw\">https:\/\/t.co\/sV2QD5s2hw<\/a><\/p>\n<p>\u2014 Antonio Garc\u00eda Mart\u00ednez (agm.eth) (@antoniogm) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/antoniogm\/status\/1985908212508606943?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">November 5, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Crypto X reacts to Mamdani\u2019s victory\u00a0<\/h2>\n<p>Mamdani\u2019s popularity signals the piling financial problems the youth are facing these days.<\/p>\n<p>Given that New York is one of the world\u2019s economic centers, the mayor-elect\u2019s plans may affect the U.S. and other countries. Notable figures in the crypto sector chimed in on what the election means.<\/p>\n<p>Austin Campbell of Aleo Foundation and Zero Knowledge Group founder was one of those who compared Mamdani to President Trump. Both lacked substantial political experience before entering their respective leadership positions, leaned heavily on social media to get their message across and, as Campbell, appealed to those unhappy with the status quo. <\/p>\n<p>Ironically, Campbell <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/CampbellJAustin\/status\/1985906562871763393\" target=\"_blank\" rel=\"nofollow\">pointed out<\/a>, Trump\u2019s failure to ban TikTok in the U.S. only helped Mamdani capture more voter attention. <\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The common thread between Trump and Mamdani is that voters, especially young ones, are very unhappy with the status quo and looking for outsiders with new ideas.<\/p>\n<p>I think it matters less what those ideas are and more that they have a clear message and propose a new path.<\/p>\n<p>\u2014 Austin Campbell (@CampbellJAustin) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/CampbellJAustin\/status\/1986032018602491936?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">November 5, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Others across the crypto community, like ProCap CEO Anthony Pompliano and Wolf of All Streets podcast host Scott Melker kept calm. <\/p>\n<p>In a series of X posts, Pompliano criticized socialism but noted that the city will continue to stand for ambition and opportunity. <\/p>\n<p>Melker, meanwhile, noted that mayors come and go, and the political pendulum keeps on swinging, concluding that New York <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/scottmelker\/status\/1986017804202672616\" target=\"_blank\" rel=\"nofollow\">\u201cwill be fine.\u201d<\/a><\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I won&#8217;t be leaving New York City.<\/p>\n<p>We can&#8217;t afford to surrender one of America&#8217;s greatest cities to people who believe in punishing ambition, condemning success, rewarding criminal behavior, and villainizing the pursuit of financial independence.<\/p>\n<p>The road ahead will require\u2026<\/p>\n<p>\u2014 Anthony Pompliano \ud83c\udf2a (@APompliano) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/APompliano\/status\/1985909851277402361?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">November 5, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Such a relaxed position contrasts with more alarmist claims that London and San Francisco exemplify how cities may change under poor management. <\/p>\n<p>Bitcoin advocate Max Keiser went so far as to say Mamdani\u2019s victory bodes well for Trump: \u201cNYC will economically melt down and boost Trump\u2019s results in the mid-terms.\u201d<\/p>\n<p>The next midterm elections will take place on Tuesday, Nov. 3, 2026.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">SPOILER ALERT \ud83d\udea8 <\/p>\n<p>\ud83d\udcaf NYC will economically melt down and boost Trump\u2019s results in mid-terms.  <\/p>\n<p>Remember, it was the bankruptcy of NYC back in the 1970\u2019s that gave Trump the opportunity to launch his career by disrupting the incumbents that controlled the real estate market.<\/p>\n<p>\u2014 Max Keiser (@maxkeiser) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/maxkeiser\/status\/1986067797441437889?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">November 5, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Unchained Crypto media founder, former Forbes senior editor, Laura Shin, opposed Mamdani before the election, citing troubles her family went through while living under the communist regime in North Korea. <\/p>\n<p>It\u2019s worth noting that North Korea remains under a communist dictatorship, which is not the same as democratic socialism. <\/p>\n<p>Shin urged New Yorkers to vote for Cuomo as the lesser of two evils. Following Mamdani\u2019s victory, she reposted some of the tweets criticizing the new mayor-elect.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The people who are saying I\u2019m equating Mamdani to The Kim family are purposely misreading what I wrote. <\/p>\n<p>Affordable housing is a big problem in NYC. And in the Bay Area, whose demise I\u2019m painfully familiar with, their original sin was that they did not build enough housing to\u2026 <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/lLgeToxt9Z\">pic.twitter.com\/lLgeToxt9Z<\/a><\/p>\n<p>\u2014 Laura Shin (@laurashin) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/laurashin\/status\/1985814465309282795?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">November 4, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>New York hedge fund manager and Bitcoin proponent Bill Ackman has been critical of Mamdani and supported Cuomo. However, following the news of Mamdani\u2019s victory, the billionaire congratulated him and offered the mayor-elect his help in NYC.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">.<a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/ZohranKMamdani?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">@ZohranKMamdani<\/a>, congrats on the win. Now you have a big responsibility. If I can help NYC, just let me know what I can do.<\/p>\n<p>\u2014 Bill Ackman (@BillAckman) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/BillAckman\/status\/1985909487363113246?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">November 5, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Some notable figures in the crypto space were critical of Mamdani before the election but haven\u2019t publicly reacted to his victory yet. In a post published in June, Gemini\u2019s Tyler Winklevoss warned about the evils of socialism and Marxism and assumed New York City would learn it \u201cthe hard way.\u201d<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">A lot of people have asked me if I will get involved in the NYC mayor race by supporting a candidate that can defeat Zohran Mamdani. TBH, I\u2019m torn and undecided. Like every other city run by democrats, NYC is a broken kleptocracy. Taxes are astronomical and services are pathetic\u2026<\/p>\n<p>\u2014 Tyler Winklevoss (@tyler) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/tyler\/status\/1938056035698381001?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">June 26, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<h2 class=\"wp-block-heading\">Mamdani and cryptocurrencies<\/h2>\n<p>There isn\u2019t much substantial info regarding Mamdani\u2019s stance on crypto.<\/p>\n<p>Cuomo, meanwhile, worked as a paid legal consultant for OKX while the cryptocurrency exchange was under federal investigation. Mamdani referenced this relationship against Cuomo during the campaign (OKX pleaded guilty earlier this year to violating U.S. anti-money laundering laws).<\/p>\n<p>In 2023, Mamdani <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/ZohranKMamdani\/status\/1656795268740677632\" target=\"_blank\" rel=\"nofollow\">supported<\/a> tighter regulation of crypto in New York, saying that it\u2019s small investors from low-income groups who suffer the most when crypto companies collapse.<\/p>\n<p>The city currently has two crypto bills in the works. A7788 aims to allow residents to pay legal fees and fines in cryptocurrencies. A8966 seeks to raise taxes on crypto transactions. However, Mamdani cannot dictate which bill to adopt.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><script async src=\"\/\/www.tiktok.com\/embed.js\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Nov. 4, Democratic Party candidate Zohran Mamdani won the New York City mayoral election, beating ex-New York state governor Andrew Cuomo and GOP favorite Curtis Sliwa. Mamdani is not&hellip;<\/p>\n","protected":false},"author":1,"featured_media":15305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-15304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/15304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=15304"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/15304\/revisions"}],"predecessor-version":[{"id":15306,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/15304\/revisions\/15306"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/15305"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=15304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=15304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=15304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}