Coinbase-Backed Group Endorses House Incumbents in Midterm Elections

The crypto industry's massive spending in the midterms has taken on a new form. A Coinbase-backed advocacy group, Stand With Crypto, has endorsed 32 House incumbents for the November elections. The endorsements focus on lawmakers who supported the Clarity Act, which would establish federal rules for digital assets and divide oversight between regulators.

The legislation remains stalled in the Senate despite being the industry's top priority. President Donald Trump recently urged Congress to pass a 'fair version' of the bill at a White House event attended by executives from Coinbase, Robinhood, Kraken, and other crypto companies.

Stand With Crypto launched in 2023 to organize crypto owners around legislation and elections. The group claims over 3 million registered U.S. advocates and has been pushing senators to advance the Clarity Act through a coalition letter published in June.