CoinDesk
Stand With Crypto, the Coinbase-backed advocacy group with more than 3 million online US members, endorsed 32 House incumbents in its first wave of midterm endorsements, a bipartisan roster that includes House Majority Whip Tom Emmer, House Agriculture Committee Chairman Glenn "GT" Thompson and digital assets subcommittee chair Bryan Steil. The list also reaches across the aisle to Democrats such as Jim Costa, a senior minority member of the Agriculture Committee who could become chairman if his party retakes the House in November.
Why it matters
The endorsements themselves carry no campaign dollars, but they steer the group's 3-million-member email list toward candidates it has graded pro-crypto, and those who score well tend to draw PAC money from the industry's main super PAC, Fairshake, and its affiliates. That gives the endorsements a quiet but durable influence on turnout in competitive districts. The bipartisan shape signals a deliberate hedge: with the House majority genuinely up for grabs, the industry wants committee seats and gavels regardless of who wins.
Market impact
Fairshake told reporters it has $122 million on hand for the fall, having already spent in primaries supporting 49 winning candidates. With committee chairmanships from Agriculture to Financial Services to Ways and Means in play, the endorsed list reads like a who's-who of the lawmakers who will write the next crypto market-structure, stablecoin and tax bills. For tokens sitting in the path of those bills, the bet is that a deeper bench of crypto-literate committee members, not just a single chamber majority, is what shifts the legislative needle.
Frequently asked questions
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What is Stand With Crypto?
It is a Coinbase-backed US advocacy group that grades politicians on crypto friendliness and has amassed more than 3 million online members, which it mobilises as a voting block.
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Why is the endorsement list bipartisan?
With the House majority genuinely in play, the group is hedging across the aisle. Committee seats and gavels, not just chamber control, decide which crypto bills get hearings and floor time.
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Do Stand With Crypto endorsements come with money?
The endorsements themselves carry no campaign contributions. But candidates who score well on the group's crypto-friendliness grades tend to draw financial backing from the Fairshake super PAC and its affiliates.
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How much does Fairshake have to spend?
The leading crypto super PAC told reporters it has $122 million on hand for the fall, having already spent in primaries supporting 49 winning candidates.
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What legislation are the endorsed lawmakers known for?
The list includes sponsors and co-sponsors of the PARITY Act, Blockchain Regulatory Certainty Act, Digital Asset Market Clarity Act, Bitcoin for America Act, and the BRCA, covering market structure, stablecoins, taxation and federal Bitcoin policy.
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