A crypto advocacy group backed by Coinbase endorsed 32 incumbent U.S. congressional candidates on Monday ahead of the November midterm elections, citing their support for key industry legislation.
Stand With Crypto, a grassroots campaign launched by Coinbase in 2023, said all 32 candidates had voted in 2023 to advance the Clarity Act out of the House of Representatives. The legislation, a top priority for the crypto sector, aims to provide regulatory clarity for digital assets but has faced opposition in the Senate. The group plans to announce Senate endorsements closer to Election Day.
The endorsements follow the crypto industry’s $200 million in spending to support pro-crypto candidates in the 2024 elections, with much of the funding channeled through Fairshake, a major super political action committee. During the previous cycle, Congress passed the Genius Act, which established rules for stablecoins, a legislative win attributed in part to the industry’s electoral influence.
Stand With Crypto claims more than 3 million registered U.S. advocates and says it is building on its 2024 efforts to demonstrate its capacity as a voting bloc. Executive Director Mason Lynaugh stated the group aims to influence competitive races in 2026, positioning crypto advocates as a decisive force in key contests.
Among the endorsed candidates are Republicans Tom Emmer, Bill Huizenga, Juan Ciscomani, and Brian Fitzpatrick, as well as Democrats Ritchie Torres and Josh Gottheimer. The group previously endorsed six congressional candidates in March.
The crypto sector spent $170 million supporting congressional candidates during the 2024 elections, according to industry estimates, underscoring the growing financial and political engagement of digital asset firms in U.S. politics.
