Former New York governor and mayoral candidate Andrew Cuomo has reportedly labored as an advisor for OKX crypto trade in coping with the federal probe. The investigation resulted in OKX pleading responsible to a number of violations and paying a penalty of $505 million.
Based on Bloomberg, Cuomo suggested the Seychelles-based trade on coverage points and how one can cope with the federal investigation. Andrew Cuomo began as a paid advisor after he resigned because the governor of New York throughout a 2021 scandal.
“He spoke with firm executives repeatedly and counselled them on how to answer the felony investigation,” in line with sources accustomed to the matter.
In February, OKX’s operator pleaded responsible to 1 depend of unlicensed money-transmitting enterprise. “For over seven years, OKX knowingly violated anti-money laundering legal guidelines and averted implementing required insurance policies,” the Appearing U.S. Lawyer famous.
David Meister, exterior counsel for OKX, advised Cryptonews in an replace that the settlement contained “completely no prices of cash laundering.”
Cuomo Suggested OKX on Government Onboarding
Sources advised Bloomberg that Cuomo inspired OKX to carry Linda Lacewell, former superintendent of NYDFS, to its board of administrators. Lacewell has been a board member since 2024, in advising the board and our authorized division.
The trade just lately appointed her as its new Chief Authorized Officer to bolster OKX’s world regulatory presence.
“Excited to affix this stellar staff,” Lacewell wrote on X, Tuesday.
Excited to affix this stellar staff! https://t.co/QBvDG8H5jf
— Linda Lacewell (@LindaLacewell) April 1, 2025
OKX stated in an announcement that Lacewell was appointed “for her regulatory experience and board contributions since 2024.”
Former Governor Engaged in Non-public Regulation Follow
Wealthy Azzopardi, a marketing campaign spokesperson, famous that Cuomo has been participating within the personal observe of regulation, representing people and companies like OKX in numerous issues.
“He has not represented purchasers earlier than a NY city or state company and routinely recommends former colleagues for positions,” Azzopardi added.
Cuomo is seen because the frontrunner within the state mayoral election set for November and is ready to carry important benefit over incumbent and pro-crypto mayor Eric Adams.
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