Crypto Group's Endorsements Skew Toward Low-Stakes Races

A key cryptocurrency group, Stand With Crypto, has issued endorsements in low-stakes congressional races, according to an analysis by Bloomberg Government. The group, backed by Coinbase, grades politicians on their friendliness to the industry's priorities.

In a review of 38 midterm endorsements, 22 were found to be in uncompetitive races or where two pro-crypto candidates already faced off.

The endorsements came after Stand With Crypto announced 32 new endorsements last week. This brought their total to 38 for the election cycle.