Stand With Crypto Skews Endorsements Toward Uncompetitive Races

Stand With Crypto, an advocacy group backed by Coinbase, has announced its latest batch of endorsements for congressional candidates. In a recent analysis, it was found that most of these endorsements have gone to low-stakes races or where two pro-crypto candidates are already facing off.

The group graded politicians on their friendliness to the industry's priorities and last week announced 32 new endorsements in races where House lawmakers are running for reelection. This brings their midterm total to 38, with 22 of those being in uncompetitive races or where two pro-crypto candidates are already facing off.

The majority of these endorsements have gone to politicians who are unlikely to face strong opposition, according to the analysis. This raises questions about the effectiveness and transparency of Stand With Crypto's endorsement process.