
Coinbase-backed group backs 32 incumbents who voted for the CLARITY Act. Over 3M advocates, $200M in industry spending, bill stalled in Senate.
Stand With Crypto, the Coinbase-backed advocacy group, has endorsed 32 House incumbents who voted for the Digital Asset Market Clarity Act. The endorsements, reported Monday by Reuters, tie the organization's election activity to a specific legislative record rather than party affiliation.
All 32 lawmakers supported the CLARITY Act when the House passed it in July 2025 by a 294-134 vote. The bill would split oversight of digital assets between the Securities and Exchange Commission and the Commodity Futures Trading Commission. It would also set registration rules for crypto exchanges. The Senate has not advanced the proposal after disputes over stablecoin rewards, decentralized finance oversight, anti-money laundering requirements, and ethics restrictions involving government officials' crypto holdings. A Banking Committee markup scheduled for Jan. 15 was postponed after Coinbase withdrew its support hours before the meeting, Reuters reported.
Stand With Crypto Executive Director Mason Lynaugh told Reuters the organization wants to return supporters of the bill to Congress. “In 2024, we were very much proving that the crypto voter is real,” Lynaugh said. “In 2026, we’re very much showing that we have the organizing capacity and that our advocates are a true voting bloc that can move the needle.”
The group’s polling, conducted with Impact Research, found that 59% of crypto owners do not reliably vote for one party. Nearly half said they could support a candidate whose crypto position matched theirs even when they disagreed on other subjects, according to the organization’s May presentation.
Several endorsed lawmakers face competitive races in November. Arizona Republican Juan Ciscomani and Pennsylvania Republican Brian Fitzpatrick are among them, according to Reuters. Bill Huizenga of Michigan, who secured the Republican nomination in the 4th Congressional District in August, is also on the list. Defend American Jobs, a Republican-aligned affiliate of Fairshake, spent nearly $512,000 supporting him. Democrats Ritchie Torres of New York and Josh Gottheimer of New Jersey also received endorsements. Protect Progress, Fairshake’s Democratic-aligned affiliate, spent about $1.5 million supporting Torres ahead of the New York primary. Fellowship PAC added roughly $300,000 in advertising.
Political spending by crypto-linked groups has continued at a high level. Reuters estimated close to $200 million has been committed during the 2026 midterm cycle. Public Citizen calculated that crypto companies had contributed about $189 million by the end of June, representing roughly 37% of corporate political contributions tracked during the period. That figure already surpassed the industry’s estimated $170 million in 2024 spending. Fairshake had spent more than $82 million during the current cycle, while MAGA Inc., a super PAC largely supported by Crypto.com, had spent more than $56 million. Public filings cited by Public Citizen showed Fairshake and its Republican-aligned affiliate Defend American Jobs held a combined $193 million in January. Protect Progress, the Democratic-aligned affiliate, also held funds.
The CLARITY Act remains a top legislative priority for the crypto industry. Supporters say dividing SEC and CFTC oversight would reduce uncertainty over trading and token classifications. The bill stalled in the Senate over multiple disagreements, leaving the next Congress to revisit the proposal if the current session ends without action. Any unfinished legislation would have to be reintroduced after the new Congress takes office in January 2027.
Stand With Crypto launched in 2023 to organize voters around digital asset policy. The group claims more than 3 million registered advocates, up from 2.7 million in May. Unlike a super PAC, it focuses on voter outreach and mobilization rather than large independent campaign expenditures. Lynaugh said the group plans to announce Senate endorsements closer to Election Day.
The election is Nov. 3.
Drafted by a large language model from the source reporting linked above, then screened by automated publishing checks. It is not read by a journalist before publication. Some articles cite our Alpha Score. Verify prices and figures against the original source. Educational coverage, not personalized advice.