Crypto Advocacy Group Unveils Key Midterm Endorsements After Clarity Act Setback

Stand With Crypto, the advocacy group launched by Coinbase in 2023, announced a bipartisan roster of Senate and House endorsements on Wednesday, amplifying its electoral push just weeks before November's midterm elections. This move comes roughly two weeks after the Clarity Act, a key piece of digital asset legislation, failed to advance in the Senate.

The group's initial Senate endorsements target three crucial races. In Ohio, it is backing Republican Senator Jon Husted, who is challenging former Senate Banking Committee Chair Sherrod Brown. Brown is widely known for his skeptical stance on the cryptocurrency industry.

Further Senate endorsements include Republican Representative Ashley Hinson, who is campaigning for a Senate seat in Iowa, and Democratic Representative Chris Pappas, running in New Hampshire against former GOP Senator John Sununu. Stand With Crypto stated its selection criteria are based solely on candidates' crypto policy positions, irrespective of party affiliation.

On the House side, the group endorsed Iowa Republican Mariannette Miller-Meeks and Alabama Democrat Shomari Figures. This builds on an earlier round of endorsements in August, when Stand With Crypto supported 32 House incumbents identified as "proven digital asset policy champions." The group also plans to ramp up advertising efforts in six House campaigns.

Shifting Focus Post-Clarity Act

The timing of these endorsements is particularly significant given the recent legislative setback. The Senate failed to advance the Clarity Act last month, with a 49-50 vote that saw Democrats voting as a unified bloc. Concerns over President Donald Trump's involvement with crypto were cited as a factor in the bill's defeat.

Stand With Crypto had previously framed the Clarity Act's defeat as a pivotal moment. Following the vote, the group warned that senators' voting records would be added to its public scorecard, indicating that its supporters would hold lawmakers accountable at the ballot box. Mason Lynaugh, Executive Director of Stand With Crypto, has since stated that the group's more than three million advocates are now entirely focused on electing candidates supportive of the crypto sector.

Unlike traditional super PACs, Stand With Crypto does not make direct campaign contributions. Instead, its efforts are concentrated on voter mobilization and evaluating candidates through its 'Voter Hub' platform. However, candidates who receive high ratings from the group frequently attract funding from other industry-aligned political action committees.

For instance, the Fairshake super PAC recently initiated a $30 million spending campaign targeting Senator Sherrod Brown. Across the industry, combined crypto-aligned political spending has neared an estimated $200 million for the 2026 election cycle, highlighting the sector's growing financial influence in Washington.

Why it matters

The endorsement of Senator Husted in Ohio underscores the high stakes of this election cycle for the crypto industry. The potential return of Sherrod Brown to a powerful position on the Senate Banking Committee would provide a strong voice for crypto skeptics, potentially impacting future legislative and regulatory efforts. Ohio, therefore, represents a crucial test of the industry's ability to mobilize voters and demonstrate its electoral power.

This strategic shift from direct lobbying to grassroots electoral engagement signals a maturation of the crypto industry's political strategy. With legislative progress stalled in Congress, the sector's message is clear: the battle for favorable policy has decisively moved to the campaign trail, where voter sentiment will be crucial.

What to watch

As the November midterms approach, observers will be closely watching the outcomes of the races targeted by Stand With Crypto, particularly the Ohio Senate contest. The effectiveness of the industry's voter mobilization efforts and the ability of its allied PACs to sway public opinion will offer valuable insights into the future trajectory of crypto regulation in the United States. The results will indicate whether the industry's substantial political spending and advocacy can translate into tangible electoral victories and, ultimately, a more favorable legislative environment.