New York City mayor-elect Andrew Cuomo joins 'Fox & Friends' to discuss his final campaign, President Donald Trump's endorsement and his warning about Mamdani's social agenda.
PERFECT – Former New York Governor Andrew Cuomo took aim at both legacy financial institutions and Washington gridlock, warning that the US is wasting time on technology that could significantly reduce costs for working families.
Speaking exclusively to Fox News Digital about his new role as co-chairman of a joint venture between fintech company OKX and the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), Cuomo detailed how the shift to blockchain technology could help reduce costs for consumers by reducing reliance on traditional banking intermediaries.
“This provides basic financial services, you have an account, you can pay bills, you can transfer money. And you don't have to deal with the establishment of a traditional bank, low requirements, overpayments, etc.,” Cuomo told Fox News Digital on Tuesday. “There are benefits across the board.”
“This is something that has been in motion for a long time, it has been struggling, dealing with the tension between these companies and traditional financial companies. Now we have seen that it must be cooperation rather than competition,” he continued.
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Cuomo says crypto is the latest chapter in the evolution of American finance. Just as the stock market crash of 1929 helped create the Securities and Exchange Commission and the Enron scandal sparked business reforms, the early days of crypto are forcing a shift to a larger perspective. As co-chairman of OKX and Intercontinental Exchange's (ICE) efforts to build regulated digital markets, Cuomo said his goal is to combine Wall Street's compliance framework with the power of 24/7 crypto technology to tone the mainstream and future.
Andrew Cuomo, former governor of New York, speaks during an interview on the floor of the New York Stock Exchange (NYSE) on Friday, Aug. 1, 2025. (Getty Images)
“When it started, it was, 'crypto was controversial,' “Cuomo pointed out, “but it was never about crypto. It was about blockchain technology. And I think that's what people missed for many years. They got caught up in crypto and didn't understand the power of blockchain.”
“The SEC, obviously, will have to change from time to time, but the blockchain will be more efficient and less expensive. You don't need intermediaries. Literally, you can trade directly, and it can be a 24/7 market, and it can be a global market,” he added.
He also spoke about the frustration of middle class families who are feeling pocketbook pain from legacy banking institutions, ATM fees and slow transaction times. By expanding blockchain access through smartphones, he believes the technology can provide financial access to the unbanked and underserved.
Solana Policy Institute President and Blockchain Association Board Chair Kristin Smith joins 'Mornings and Maria' to discuss the Senate's push to pass the Clarity Act, crypto regulation and what's at stake for America's digital asset leadership.
“Without tokenized securities, usually in this platform, you have a wallet, you can put your money in your wallet, you can pay with your wallet. And… for the average consumer, that makes a huge difference. There are almost no transaction fees. The payment is direct, the payment is fast for the average consumer,” explained Cuomo. “And there are billions of people around the world who don't have access to any financial resource.”
To unlock the full potential of blockchain, Cuomo is urging Congress to pass the CLARITY Act, which he says will impose stricter traffic laws.
“You can't say that the industry is the Wild West when there is no sheriff. That is why it is the Wild West, because there is no sheriff and no laws,” he said. “You don't have time. The situation is clear. Businesses are working. People are doing business. This should have been done ten years ago. You don't have time. You must respond, the government must respond in time to the situation presented. It is happening.”
Coinbase Chief Legal Officer Paul Grewal joins 'Mornings with Maria' to discuss the race in Washington to finalize the Clarity Act, increasing pushback from big banks and how upcoming crypto laws could reshape investing for Americans.
Cuomo also responded to criticism from traditional financial elites — including JPMorgan Chase Chairman and CEO Jamie Dimon — who say the Act fails to meet federal banking standards.
“Now, I think a lot of traditional finance guys were saying, 'Hey, hold on, this could change the industry a lot. We need to understand all the implications of the industry that's there, so let's take some time because this could improve my business,'” said Cuomo, “but … it's improving. And what you have to get these companies is that you emerge and succeed, or you remain stagnant and die. That's the way of the market.
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Ripple CEO Brad Garlinghouse discusses the Law of CLARITY, crypto markets, Ripple's new AI developer toolkit and what's next for XRP as investors watch for key support levels on 'Mornings with Maria.'
The former New York governor and attorney general emphasized how this new venture marries the stability of the NYSE with advanced technology to keep America competitive on the world stage.
“What makes me so happy is that this brings these two giants together … The New York Stock Exchange is the symbol of the American financial system … [blockchain] cooperation and cooperation and collaboration.”
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