Newsletter
Stand With Crypto released a list of endorsements from both parties in the Senate and House of Representatives, including its first endorsement in the Senate.
This push occurred after Clarity Act failed in the Senate by a vote of 49 to 50, and it also coincides with a significant increase in political spending within the crypto industry.
The initiative organization Stand With Crypto, launched by Coinbase in 2023, released a list of bipartisan endorsements from the Senate and House of Representatives on Wednesday. This comes about a month before the mid-term elections in November and two weeks after the collapse of Clarity Act in the Senate, further strengthening its electoral mobilization efforts.
The organization's first Senate endorsement involved three campaigns. In Ohio, it supported Republican Senator Jon Husted; he will face former Chairman of the Senate Banking Committee, Sherrod Brown, who has long been skeptical about cryptocurrencies.
The organization also endorsed Republican Representative Ashley Hinson, who is running for a Senate seat in Iowa; as well as Democratic Representative Chris Pappas, who is competing against former Republican Senator John Sununu in New Hampshire. The organization stated that it will choose its supporters based on the candidates' stances on crypto policies, "regardless of party."
On the House of Representatives side, the list of endorsers includes Republicans from Iowa Mariannette Miller to Meeks and Democrats from Alabama Shomari Figures. The organization also stated that it will increase its advertising efforts in six House of Representatives races. This continues from the initial endorsements in August, when Stand With Crypto supported 32 current House members, calling them "verified defenders of digital asset policies."
This timing is quite targeted, given the recent setbacks faced by Clarity Act, as well as the less subtle threats subsequently made by lobbying groups to members of parliament who voted against the bill.
Last month, the Senate failed to pass Clarity Act with a vote of 49 to 50. Democrats unanimously voted against it due to concerns regarding the encrypted transactions of U.S. President Donald Trump. Stand With Crypto viewed this failure as a turning point and warned at the time that the senators' votes would be included in their public scorecards, and supporters would also judge these members based on their voting records.
Executive Director Mason Lynaugh stated that the organization, which now has over 3 million advocates, is fully focused on selecting candidates who support cryptocurrencies.
These endorsements appear amidst a wave of crypto-political funding. Unlike super political action committees, Stand With Crypto does not donate directly to campaign activities; instead, it uses its Voter Hub to focus on mobilizing voters and rating candidates.
However, candidates with high ratings tend to attract funds from PAC that align with industry positions. The Fairshake Super Political Action Committee recently launched a $30 million spending campaign targeting Brown, and political expenditures related to cryptocurrency have totaled nearly $200 million during the 2026 cycle.
The endorsement of Husted highlights the vested interests involved. If Brown returns, it will give crypto skeptics a strong voice within the Senate Banking Committee, making Ohio an important test to see whether the industry's electoral machinery can influence voting results.
For now, the message conveyed by the grassroots organizations in this industry is clear: since Congress has come to a standstill, the battle has shifted to the electoral arena.
