Former New York Governor Says Crypto Industry Needs to Balance Support for Republicans and Democrats

Former New York Governor Andrew Cuomo stated that the crypto industry’s support for the Republican Party has alienated the Democratic Party. He emphasized that if the industry wants federal-level crypto legislation to pass, it must maintain a balance between supporting both parties. Speaking at Token2049, Cuomo pointed out that the industry believes that heavily investing in Republicans is the way to push the CLARITY Act through. He stressed that investing in Republicans would alienate Democrats, and the passage of the bill requires support from both parties, necessitating a more balanced approach. According to Tech Influence Watch data, during the 2026 election cycle, crypto-related PACs invested $54.3 million in support of Republicans, $26.2 million in support of Democrats, and $23.2 million to oppose Democrats. Cuomo also refuted the notion that "Democrats are inherently anti-crypto," stating that crypto technology aligns with Democratic ideals by empowering those who have difficulty accessing financial products, which has always been a focus for the Democratic Party.

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