OKX Under Scrutiny: Zohran Mamdani’s Campaign Ad Highlights Cuomo’s Crypto Ties

New York City mayoral candidate Zohran Kwame Mamdani has intensified his critique of former Governor Andrew Cuomo's connections to the cryptocurrency industry through a new campaign advertisement. The ad specifically targets Cuomo's advisory position at OKX, a Seychelles-based cryptocurrency exchange that came under federal investigation in 2024. This move by Mamdani could potentially heighten political challenges for the crypto sector, even as the Trump administration has shown a more favorable stance towards digital assets. The timing of this ad, released in August 2025, underscores the ongoing scrutiny and debate surrounding cryptocurrency regulation and political influence in the United States. As the crypto industry continues to evolve, the intersection of politics and digital assets remains a contentious issue, with figures like Mamdani leveraging these concerns for political gain. The focus on OKX and its regulatory troubles serves as a reminder of the complexities and risks associated with the rapidly growing cryptocurrency market.

Zohran Mamdani’s Campaign Ad Targets Cuomo’s Crypto Ties Amid Industry Scrutiny

New York City mayoral candidate Zohran Kwame Mamdani has escalated his criticism of former Governor Andrew Cuomo’s ties to the cryptocurrency industry in a new campaign ad. The ad highlights Cuomo’s advisory role for OKX, a Seychelles-based exchange that faced federal investigations in 2024. Mamdani’s focus on crypto corruption risks amplifying political headwinds for the sector, despite the Trump administration’s pro-crypto stance.

The attack ad positions Mamdani as a potential antagonist to crypto-friendly policies championed by current Mayor Eric Adams. By foregrounding Cuomo’s OKX connections alongside other scandals, the campaign signals heightened scrutiny of political-crypto entanglements. This comes as OKX and other exchanges benefit from lighter enforcement under President Trump’s regulatory approach.

OKB Surges 170% After OKX Announces Major Token Burn and X Layer Upgrade

OKB, the utility token of cryptocurrency exchange OKX, skyrocketed nearly 170% within an hour following the platform's announcement of a massive token burn and ecosystem overhaul. The one-time destruction of 65 million tokens will permanently reduce OKB's total supply to 21 million, mirroring Bitcoin's scarcity model.

Simultaneously, OKX revealed its 'PP upgrade' to X Layer, integrating Polygon's latest CDK technology to boost throughput to 5,000 transactions per second. The enhancements slash gas fees to near-zero levels while improving ethereum compatibility, positioning X Layer as a formidable player in the zkEVM space.

The exchange will phase out OKTChain due to functional overlap with X Layer, marking a strategic consolidation of its blockchain infrastructure. This bold MOVE demonstrates OKX's commitment to streamlining its ecosystem while aggressively reducing token supply - a combination that clearly resonated with market participants.

OKB Price Skyrockets Over 163% Amid Historic OKX Announcement

OKB, the native token of OKX exchange, surged more than 163% following a landmark announcement from the platform. The rally mirrors typical market reactions to major exchange listings, underscoring the significance of the news.

OKX executed a massive token burn, permanently removing 65,256,712.097 OKB tokens from circulation—a move valued in billions. The tokens, sourced from historical buybacks and treasury reserves, were sent to an irretrievable "black hole" address. This burn marks a strategic shift: OKX will transition to an automated smart contract mechanism, capping OKB's total supply at 21 million to emulate Bitcoin's scarcity model.

The announcement coincided with a major upgrade to OKX's X Layer, a Polygon zkEVM-based public chain. The overhaul boosts throughput to 5,000 TPS, reduces gas fees to near-zero levels, and enhances Ethereum compatibility. OKX is doubling down on DeFi, global payments, and real-world asset tokenization, backed by ecosystem incentives and infrastructure improvements.