Former New York Governor Andrew Cuomo will co-chair a new joint venture between crypto exchange OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange. The deal was disclosed Monday, marking ICE's most prominent political hire as it deepens its bet on digital assets.
The venture
OKX and ICE aren't saying much yet about what the joint venture will actually do. The announcement only names Cuomo as co-chair and frames the role as a strategic push into crypto markets. Given ICE's history — it already runs Bakkt, a crypto custody and trading platform — the new entity could focus on institutional-grade products. OKX brings a retail-heavy exchange with global reach.
Cuomo's return to the spotlight
For Cuomo, this is a return to a high-profile role after leaving the governor's office in 2021. He's been largely out of the public eye since then. The appointment is the highest-profile political figure to take a formal role at a crypto company in ICE's orbit. It's a bet that political weight can help navigate the regulatory maze around digital assets.
ICE's crypto timeline
ICE has been in the crypto space for years. Bakkt launched in 2018 with big ambitions — physically settled bitcoin futures, then a consumer app. It never quite took off the way some hoped. But ICE kept at it. This joint venture looks like a new chapter. Cuomo's job likely involves smoothing relations with regulators and lawmakers, a skill set ICE clearly values.
The timing isn't accidental either. Washington is wrestling with stablecoin legislation, a bitcoin ETF approval, and broader crypto oversight. Having a former governor — one who knows Albany and D.C. — as co-chair sends a signal that ICE wants to play inside the system, not against it.
No launch date for the venture has been announced. OKX and ICE didn't provide a timeline. For now, the market is watching to see if Cuomo's political clout translates into real regulatory wins.
