Coinbase-backed crypto advocacy group endorses 32 US midterm candidates

Stand With Crypto, a Coinbase-backed advocacy group, has endorsed 32 incumbent congressional candidates for the upcoming November midterm elections, signaling the crypto industry's growing influence in Washington. This endorsement effort, first reported by Reuters, comes as the Clarity Act, the industry's top policy priority, currently faces opposition in the Senate.

All the endorsed candidates voted in favor of the Clarity Act in the House of Representatives last year, and Stand With Crypto aims to return these pro-crypto allies to their respective offices.

Mason Lynaugh, the executive director of Stand With Crypto, highlighted the group's expanding organizing capacity and the potential impact of its advocates as a voting bloc in the 2026 elections. The advocacy group was launched by Coinbase in 2023 to promote pro-crypto legislation through grassroots efforts, with an estimated 3 million registered U.S. advocates.

Among the new 32 endorsees are several key House allies from the crypto industry, including Republicans Tom Emmer and Bill Huizenga, as well as Democrats Ritchie Torres and Josh Gottheimer. The group anticipates making a difference in several competitive races, such as those in Arizona and Pennsylvania.

Stand With Crypto plans to announce its Senate endorsements closer to the Election Day. The crypto industry's spending in the 2024 elections reached $170 million, boosting its influence and leading to the passage of the Genius Act last year. This legislation established rules for dollar-backed crypto tokens, known as stablecoins, potentially increasing their adoption. So far, the industry has invested nearly $200 million in the November midterm elections, underscoring its significant presence in Congress.