NEW YORK (BLOOMBERG) -- Former Gov. Andrew Cuomo is starting a second act: Helping cryptocurrency exchange operator OKX and the owner of the New York Stock Exchange build a new business that merges digital and traditional finance markets.
Cuomo, who has advised OKX on policy matters including a federal investigation that the firm pleaded guilty to, will co-chair a joint venture between OKX and Intercontinental Exchange Inc., the companies announced Monday. Trabue Bland, ICE’s senior vice president of futures exchanges, will be the other chair.
“I think that is going to be a very, very powerful combination,” Cuomo said in an interview. “It’s ICE and the New York Stock Exchange recognizing that this technology is coming.”
Depending on regulatory approvals, the companies are planning to operate a US registered broker-dealer and futures commission merchant. That would help the offshore crypto exchange reach US customers and let overseas OKX customers access ICE’s futures and NYSE’s tokenized equities.
Cuomo was the 56th governor of New York from 2011 until his resignation in 2021 following sexual-harassment allegations that he denies. He is the son of former governor Mario Cuomo, and ran as an independent for mayor of New York City in the 2025 mayoral election. He began working with OKX in 2023, the company said.
Founded in 2017, OKX operates one of the world’s largest crypto exchanges. The company has users in more than 100 countries that trade hundreds of cryptocurrencies. Cuomo worked as a paid adviser to OKX as it dealt with a federal investigation conducted by the FBI and prosecutors from the Southern District of New York, Bloomberg reported.
Last year, OKX pleaded guilty and agreed to pay more than $504 million in penalties after prosecutors accused the firm of processing more than $1 trillion of transactions by US customers without a license.
OKX has since built up more ties to a traditional area of finance. Earlier this year, ICE acquired a stake in OKX for $200 million in a deal that valued the cryptocurrency exchange operator at $25 billion, Bloomberg reported. That investment, which also gave ICE a seat on OKX’s board, marked an early step in the pair’s relationship.
Cryptocurrency companies have sought to build more of a foothold in the traditional finance space under President Donald Trump’s administration. Crypto exchange Kraken gained access to the Federal Reserve’s payment infrastructure. The passage of the so-called Genius Act has also established a regulatory framework for stablecoins.
NYSE announced earlier this year that it’s building a venue using blockchain technology to trade tokenized stocks and exchange-traded funds around the clock.
“I understand the role for government. I understand the role for the private sector. Let the private sector grow, let them innovate, let them find and develop new products,” Cuomo said. “But make sure they’re doing it in a safe way. Balance is everything.”
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