Ex NY Guv Andrew Cuomo Advised OKX Amid Federal Probe

Former Governor Andrew Cuomo provided counsel to the cryptocurrency exchange OKX as it is going through a federal investigation.

After stepping down from office, Cuomo advised the exchange as it faced scrutiny from the FBI and the US Attorney’s Office for the Southern District of New York, reports from Bloomberg revealed.

Guv. Andrew Cuomo Comesto Aide OKX

In February, OKX pleaded guilty to violating anti-money laundering laws and agreed to pay over $500 million in fines. The investigation focused on the company’s failure to obtain a proper license to operate as a money transmitter, an issue the exchange acknowledged in a statement regarding the settlement. The company also highlighted that the case did not involve any customer harm, and users linked to the investigation are no longer on the platform.

Cuomo, who is currently running for mayor of New York City, reportedly had regular discussions with OKX executives and offered advice on how to handle the criminal inquiry. Moreover, Cuomo recommended the exchange bring on Linda Lacewell, the former superintendent of the New York Department of Financial Services, to join the company’s board. On Monday, OKX appointed Lacewell as its new chief legal officer, a move she expressed excitement about on X .

An OKX spokesperson commented on Lacewell’s appointment, highlighting her regulatory expertise and her contributions to the company’s board since 2024. The spokesperson explained that this position places her in a key role to lead the company’s global legal strategy.

Cuomo, whose spokesperson confirmed he has been engaged in legal work since leaving office, refrained from commenting on specific client matters. The spokesman clarified that Cuomo has not represented clients before New York City or state agencies and regularly recommends former colleagues for positions.

Also Read: OKX Issues Warning Over Malicious Mining Software ‘Bom’ Linked to Theft

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Ritu Lavania

Ritu Lavania is a versatile Web3 content creator with over three years of experience in the crypto space. She is part of the team at CryptoNewsZ, where she writes insightful and engaging content. She has also contributed to TheCryptoTimes and The Coin Edition, where her work has been well received by the crypto community. Skilled in research, creative writing, SEO, and cross-functional collaboration, she creates content tailored to diverse audiences. Passionate about education, she dedicates time to teaching kids and expressing herself through poetry. Always eager to learn, she continuously explores new trends in blockchain and digital assets. She believes in the power of storytelling to make complex crypto topics more accessible and engaging for readers worldwide.