Stand With Crypto, an advocacy organization funded by cryptocurrency exchange Coinbase, announced Monday its endorsement of 32 incumbent congressional candidates ahead of the November midterm elections. This move signals the crypto industry's deepening efforts to solidify its influence in Washington.
The endorsements target candidates who previously supported the Clarity Act, a key piece of legislation for the crypto industry that aims to provide legal clarity but has faced opposition in the Senate. All 32 endorsed candidates voted to advance the Clarity Act out of the House of Representatives last year.
Mason Lynaugh, executive director of Stand With Crypto, stated that the group's 2026 campaign builds upon its 2024 efforts. "In 2024 we were very much proving that the crypto voter is real. In 2026 we’re very much showing that we have the organizing capacity and that our advocates are a true voting bloc that can move the needle," Lynaugh said.
Coinbase established Stand With Crypto in 2023 with the objective of fostering a grassroots advocacy campaign to promote pro-crypto legislation. The organization focuses on mobilizing voters rather than relying on substantial campaign expenditures. It claims to have over 3 million registered U.S. advocates.
Among the endorsed candidates are Republican representatives Tom Emmer and Bill Huizenga, and Democratic representatives Ritchie Torres and Josh Gottheimer. Some of these candidates are running in closely contested races, including Arizona Republican Juan Ciscomani and Pennsylvania Republican Brian Fitzpatrick.
"I think we can be the difference maker in some of these," Lynaugh commented. Stand With Crypto plans to announce its endorsements for Senate candidates closer to Election Day.
The crypto industry has been actively investing in political campaigns, having spent $170 million to support congressional candidates during the 2024 elections, many of whom were successful. This past year, the industry secured a legislative win with the passage of the Genius Act, which established regulations for stablecoins, potentially increasing their adoption. To date, the sector has already contributed nearly $200 million toward the upcoming midterm elections, largely through the super political action committee Fairshake, which supports candidates favorable to the crypto industry.