Andrew Cuomo: Crypto Industry Leans Republican and Has Alienated Democrats, Needs Bipartisan Support to Advance CLARITY Act

Odaily reports: Former New York Governor Andrew Cuomo, speaking at a panel discussion at Token2049 alongside OKX CEO Star Xu, said the crypto industry has overwhelmingly supported the Republican Party and has alienated the Democratic support needed to advance the CLARITY Act.

During the 2026 election cycle, crypto-focused political action committees have spent $54.3 million supporting Republicans, $26.2 million supporting Democrats, and another $23.2 million opposing Democrats.

As of Thursday, Kalshi prediction markets show Democrats have about a 61% chance of winning both chambers of the U.S. Congress. Cuomo said a Democrat-controlled Congress could roll back regulators' crypto policies or work with the Trump administration to advance a full CLARITY Act.

Cuomo said Democrats are not opposed to crypto technology, which can help people who previously lacked access to financial products obtain related services. In July 2025, 78 House Democrats joined 216 Republicans in voting to pass the CLARITY Act. (Cointelegraph)