# Andrew Cuomo Backs Crypto Stock Exchange Amid Company Pushback

> Andrew Cuomo faces backlash as he promotes a Chinese-led crypto stock exchange for tokenized trading.
- Title: Andrew Cuomo Backs Crypto Stock Exchange Amid Company Pushback
- Summary: Andrew Cuomo faces backlash as he promotes a Chinese-led crypto stock exchange for tokenized trading. Andrew Cuomo's push for tokenized stock exchanges faces…
- Keywords: andrew cuomo, okxice, tokenized stock exchange, intercontinental exchange, new york stock exchange, crypto trading, securities and exchange commission, tokenization, news, entertainment, Andrew, Cuomo
- Source: New York Post — https://nypost.com/2026/10/20/business/andrew-cuomo-faces-blowback-as-he-plugs-chinese-joint-venture-for-crypto-based-stock-exchanges
- Published: 2026-10-20T18:03:25+00:00
- Read time: 1 min
- Topics: andrew cuomo, okxice, tokenized stock exchange, intercontinental exchange, new york stock exchange, crypto trading, securities and exchange commission, tokenization, news, entertainment
## Andrew Cuomo's Crypto Push
Former New York Governor Andrew Cuomo has backed tokenized stock exchanges, a crypto-based trading model that has drawn criticism from major companies.
## OKXICE Joint Venture
Cuomo co-chairs OKXICE, a 50-50 joint venture between China-founded crypto exchange OKX and the Intercontinental Exchange, which owns the New York Stock Exchange.
## Company Opposition
Cerebras Systems, AppLovin, Applied Digital, Rocket Lab, CoreWeave, Verizon, Applied Optoelectronics, Broadcom, and UnitedHealth have objected to being included on OKXICE.
## Cuomo's Financial Activity
After resigning as governor in 2021, Cuomo earned nearly $5 million in 2024 as a consultant and bought a $9.6 million Hamptons estate last month.
## Tokenized Trading Model
Tokenized shares link a digital token to traditional stocks, allowing 24/7 trading but raising concerns about pricing disparities and regulatory oversight.
## Regulatory Concerns
The SEC model allows a limited number of companies to participate, but tokenized exchanges face uncertainty about insider trading and market manipulation risks.
## Cuomo's Optimism
Cuomo predicts tokenized exchanges will become the future of finance within five years, enabling AI-driven financial transactions and 24/7 trading.
## Company Pushback
Despite rejections from nine major companies, OKXICE remains optimistic about tokenizing shares of Nvidia, Tesla, Apple, Microsoft, Coinbase, and Robinhood.
## Key takeaway

Andrew Cuomo's push for tokenized stock exchanges faces opposition from major companies concerned about regulatory risks and 24/7 trading.