Zohran Mamdani's victory in the New York mayoral primary on June 24 has raised alarms within the crypto sector. He will compete against incumbent Mayor Eric Adams in November, and many crypto executives are apprehensive about his leftist policies, which some liken to Soviet collectivism. While Mamdani has articulated various progressive stances, he has been largely silent on cryptocurrency, unlike Adams, who actively promotes it. Following the primary, notable figures like Tyler Winklevoss criticized Mamdani, suggesting that New York City is deteriorating under Democratic leadership. Mamdani's campaign has included calls for consumer protections in the crypto space, echoing sentiments from regulators. However, his influence over the crypto industry may be limited, as state regulators hold significant power. Despite this, some in the crypto community are considering supporting him to sway his stance. With a favorable outlook for Mamdani's election chances, the crypto industry may face challenges beyond just his policies. Read more AI-generated news on: https://app.chaingpt.org/news