Coinbase Backs 32 Midterm Candidates Endorsed by Crypto Advocacy Group, All Backing Vote for <i>CLARITY Act</i>

BlockBeats News, August 24th - According to Reuters, the crypto advocacy group Stand With Crypto, supported by Coinbase, announced the endorsement of 32 incumbent congressional candidate for the November midterm elections. These 32 candidates all previously voted in favor of advancing the key crypto industry legislative priority, the CLARITY Act, through the House last year. The Act is currently stalled in the Senate due to some opposition. The list includes Republican Representatives Tom Emmer, Bill Huizenga, as well as Democratic Representatives Ritchie Torres and Josh Gottheimer, among other key allies of the crypto industry, with some candidates facing tough reelection battles.

Stand With Crypto Executive Director Mason Lynaugh stated: "In 2024, we proved that the crypto vote is real; in 2026, we want to demonstrate our organizing ability. Our advocates are a voting bloc that can truly influence outcomes."

Stand With Crypto was launched by Coinbase in 2023 to influence elections through voter mobilization rather than large-scale campaign spending, claiming to have over 3 million registered "advocates." In 2024, the crypto industry invested $170 million in supporting congressional candidates, with the majority winning, and helped pass the GENIUS Act for stablecoin regulation in Congress. During this year's midterm election cycle, the crypto industry has already invested nearly $200 million through channels like the Fairshake Super PAC to further solidify its influence in Congress.