OKX names ex-New York governor Cuomo to its board of directors

Andrew M. Cuomo, the former governor of New York, has joined OKX’s board of directors, formalizing an advisory relationship that started in 2023. 

Founder and CEO, Star Xu, backed up the exchange’s announcement on X on July 20.

Xu wrote, “Governor Cuomo has been a thoughtful voice for OKX for years, and his move to the board formalizes a relationship that has already shaped how we approach the U.S. market.”

A board seat will formalize Cuomo’s multi-year relationship with OKX, which has involved counseling on its U.S. regulatory and institutional strategy, into a governance role. Xu added that they need people like Cuomo who understand how governments, institutions and markets actually think as they build OKX into the infrastructure layer for both traditional and digital finance.

Cuomo is coming with a solid public resume, having served as New York’s 56th governor from 2011 to 2021. Before becoming governor, he was the state’s attorney general, and before then, he led the U.S. Department of Housing and Urban Development as secretary.

What role has Cuomo played for OKX before now?

In June, OKX and Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), unveiled a 50-50 joint venture named OKXICE to tokenize NYSE-listed stocks and futures.

Cuomo co-chairs that joint venture alongside Trabue Bland, ICE’s senior vice president of futures exchanges.

The venture plans to register as a U.S. broker-dealer and futures commission merchant, pending regulatory sign-off. If it succeeds in getting a clearance, OKX says its 120 million users would gain access to tokenized versions of NYSE equities and ICE futures contracts.

ICE reportedly made an investment in OKX in March that put the exchange’s value at around $25 billion. That investment was worth around $200 million, according to Bloomberg.

In June, Cuomo spoke about the joint venture, stating, “This is not about crypto.” He said, “This is about blockchain and financial technology, and applying blockchain to other assets.”

A political comeback with baggage

Cuomo has not been without controversy, as his exit from politics, especially as governor of New York, was due to allegations of sexual harassment by multiple women. He has repeatedly denied those allegations.

Cuomo tried to enter the scene again more recently by contesting the 2025 New York City mayoral race. However, he lost to Zohran Mamdani.

He has since stated that he would spend most of his time on the OKX venture, alongside advising some nonprofits.

While he says he has no plans to run for office again, he has not entirely ruled it out, as he told reporters, “Never say never.”

When Cuomo started advising OKX in 2023, the company was already under a Department of Justice investigation. That case ended in 2025 with OKX pleading guilty to anti-money-laundering violations and paying more than $500 million, after which it relaunched its U.S. operations.

Despite the controversy, Cuomo’s presence on the board gives the company a standing that many crypto organizations cannot boast of.

OKX now holds licenses across the U.S., the UAE, the European Economic Area, Singapore, and Australia and publishes monthly proof-of-reserves reports.

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