Stand With Crypto, a grassroots advocacy organization backed by Coinbase Global Inc., endorsed 32 incumbent congressional candidates on Monday for the upcoming November midterm elections. The group aims to support lawmakers who previously voted in favor of the Clarity Act, a piece of legislation that crypto companies state would provide necessary legal clarity for the industry. While the bill passed the House of Representatives last year, it has currently stalled in the Senate.
The advocacy group, which launched in 2023, is focusing its 2026 efforts on mobilizing what it describes as a growing "crypto voter" bloc. Executive Director Mason Lynaugh stated that the organization aims to demonstrate organizing capacity and the ability to influence election outcomes. Unlike political action committees that focus on direct spending, Stand With Crypto reports that it operates by organizing its more than 3 million registered U.S. "advocates" to engage in the electoral process.
Among the 32 incumbents receiving endorsements are Republicans Tom Emmer and Bill Huizenga, as well as Democrats Ritchie Torres and Josh Gottheimer. The list also includes candidates in competitive districts, such as Republicans Juan Ciscomani of Arizona and Brian Fitzpatrick of Pennsylvania. This new group of endorsees follows six candidates who received the organization's backing earlier this year in March.
The scale of industry involvement in the 2026 midterm cycle is significant, with nearly $200 million already spent to support various candidates. This follows a 2024 cycle where the industry spent $170 million. While Stand With Crypto focuses on voter mobilization, a separate super PAC called Fairshake handles large-scale campaign expenditures. For voters in competitive districts like those in Arizona and Pennsylvania, this organized mobilization could influence the narrow margins that often decide congressional representation and, subsequently, the federal policy agenda for financial technology.
The focus on returning incumbents who supported the Clarity Act illustrates the industry's attempt to break the legislative deadlock in the Senate. A previous legislative success cited by the industry was the passage of the Genius Act last year, which established rules for stablecoins—cryptocurrency tokens backed by the U.S. dollar. The success or failure of these 32 endorsed candidates will likely determine if the Clarity Act gains enough momentum to move forward in the next session of Congress. Stand With Crypto stated it intends to announce its Senate endorsements as the general election approaches, though no specific dates for those announcements were provided.