Key facts
- Stand With Crypto, an advocacy group backed by Coinbase, endorsed 32 incumbent congressional candidates.
- The endorsements are for the November midterm elections.
- The group aims to mobilize voters to support candidates who have backed pro-crypto legislation.
- The Clarity Act is the crypto industry's top policy priority, but it is stalled in the Senate.
- The crypto industry spent $170 million supporting candidates in the 2024 elections and has already invested close to $200 million in the upcoming midterms.
Stand With Crypto, an advocacy group supported by cryptocurrency exchange Coinbase, has announced its endorsement of 32 incumbent congressional candidates for the upcoming U.S. midterm elections. This move signifies the crypto industry's increasing efforts to solidify its influence in Washington.
The endorsements are strategically aimed at supporting candidates who have previously voted in favor of the Clarity Act, the crypto industry's primary legislative objective, which is currently facing opposition in the Senate. Stand With Crypto hopes to ensure the return of these industry-friendly lawmakers to office, believing the legislation will provide much-needed legal clarity for the sector.
Mason Lynaugh, executive director of Stand With Crypto, stated that the group's 2026 campaign builds upon its initial efforts in 2024, where they aimed to demonstrate the existence and impact of the "crypto voter." He expressed confidence in their organizing capacity and their ability to influence election outcomes.
Coinbase launched Stand With Crypto in 2023 with the goal of fostering a grassroots advocacy campaign to advance pro-crypto legislation. The organization focuses on organizing and mobilizing voters rather than relying on substantial campaign expenditures, claiming a network of over 3 million registered U.S. "advocates."
Among the newly endorsed candidates are prominent House allies such as Republicans Tom Emmer and Bill Huizenga, and Democrats Ritchie Torres and Josh Gottheimer. Several of the endorsed candidates are competing in closely contested races, including Arizona Republican Juan Ciscomani and Pennsylvania Republican Brian Fitzpatrick.
The crypto industry has demonstrated significant financial commitment to political campaigns, having spent $170 million supporting congressional candidates in the 2024 elections, many of whom were successful. This financial backing contributed to the passage of the Genius Act last year, which established rules for stablecoins. The sector has already allocated nearly $200 million towards the current November midterm elections, largely channeled through the super political action committee Fairshake.