Andrew Cuomo, the former governor of New York, says the crypto industry has alienated Democrats by backing Republicans so heavily. He says that matters because federal crypto legislation needs Democratic support to pass. Cointelegraph reported his remarks on Oct 8, 2026.
Cuomo's message to the industry was direct. If it wants a federal crypto law, it should split its support more evenly between the two parties instead of favoring one side.
The report does not name a specific bill or give a vote count. It also does not include any reply from Democratic lawmakers or from crypto companies. All we know so far is Cuomo's view of how the industry's political spending has landed in Washington.
For anyone already holding a perpetual position on Bitget, Bybit, MEXC or OKX, this changes nothing directly. The report mentions no new rule, vote or exchange decision, so funding rates, trading fees and order-book liquidity are not affected by it. It is a political argument about future legislation, and no outcome has been reported.
Source: cointelegraph — Crypto’s heavy backing of Republicans alienated Democrats: Cuomo