New York's New Mayor: What's Next for the City and Its Crypto Crowd?

Zohran Mamdani, a Queens-based state assembly member, has taken the reins as New York City's new mayor, winning a tight race against Andrew Cuomo and Curtis Sliwa. His victory came on a platform promising affordable housing, stronger labor rights, and more social programs. Billionaire Bill Ackman, who spent big bucks trying to stop Mamdani's win, surprised many by offering to help him govern. Ackman, known for his opposition to Mamdani's socialist-leaning economic views, has warned that high earners might leave the city, hurting its tax base. Ackman isn't alone in his concerns. Other billionaires are reportedly eyeing exit plans if the new administration brings in stricter taxes. But not everyone in the finance world is ready to bolt. Crypto entrepreneur Anthony Pompliano says he's staying put, arguing that giving up on New York isn't the answer. Scott Melker, a popular crypto analyst, also sees no reason to panic. He believes the city will bounce back, and this election might even give it the push it needs. Mamdani hasn't said much about crypto policy, but he has criticized corporate influence in politics. Earlier this year, he called out Cuomo for teaming up with crypto exchange OKX while it was under federal investigation. The crypto market has seen a slight dip recently, but it's unclear how Mamdani's policies will affect it. One thing is clear: New York's future is a hot topic, and everyone from billionaires to crypto enthusiasts is watching closely.