Former New York governor says crypto lost Democratic support by favoring Republicans

Andrew Cuomo, a former New York governor and an OKX director with Chinese roots, said the crypto industry lost Democratic support needed to pass the CLARITY Act by concentrating political donations on Republicans, Cointelegraph reported. Speaking at Token2049 in Singapore, Cuomo said focusing donations on Republicans was bound to trigger Democratic backlash, while passage of the bill requires support from both parties. Cuomo added that the industry should take a more balanced approach to political contributions. Cuomo also said crypto technology can expand access for people who have had difficulty using financial products, aligning it more closely with values long pursued by Democrats.