Stand With Crypto, the advocacy group founded by cryptocurrency exchange Coinbase, has released a list of 32 U.S. House incumbents it is endorsing for this year's midterm elections, signaling a coordinated push to influence crypto-related legislation in the next Congress.

Market Context

The announcement comes as both major parties position themselves on digital asset regulation ahead of November's elections. The cryptocurrency industry has intensified its political spending following years of regulatory uncertainty and enforcement actions from federal agencies including the Securities and Exchange Commission.

Stand With Crypto, which has amassed over 3 million online U.S. members since its founding, operates a grading system that rates politicians on their crypto-friendliness. The group's political influence extends beyond endorsements—the industry's super PAC network is preparing significant financial backing for favored candidates.

Analysis

The bipartisan endorsement list targets lawmakers who sit on committees most likely to shape digital asset legislation in the next Congress: the House Financial Services Committee, Agriculture Committee, and Ways and Means Committee. These panels handle issues ranging from market structure regulation to cryptocurrency taxation.

"As candidates from both parties are trying to reach voters outside of more traditional constituencies, they overlook crypto voters at their own peril," said Mason Lynaugh, executive director of Stand With Crypto, in a statement accompanying the announcement.

Among the Republicans receiving endorsements is House Majority Whip Tom Emmer, who has emerged as a leading voice for digital asset legislation. Also included are Glenn "GT" Thompson, chairman of the House Agriculture Committee, and Bryan Steil, who chairs the digital assets subcommittee within Financial Services. The list further includes Warren Davidson of Ohio, who introduced the Bitcoin for America Act last year.

On the Democratic side, the group is backing Jim Costa, a member of the Agriculture Committee who could be positioned for a committee chairmanship if his party gains House control in November. Also endorsed is Ritchie Torres of New York, who has been a frequent crypto advocate and reintroduced legislation alongside Emmer last year. Nevada Democrat Steven Horsford, who introduced the bipartisan PARITY Act this year, also made the list.

Michigan Republican Bill Huizenga, cosponsor of both the Blockchain Regulatory Certainty Act and the House's Digital Asset Market Clarity Act, received an endorsement as well.

"The midterms come at a key inflection point for crypto policy in Washington, D.C.," Lynaugh stated. "With dozens of wins in House and Senate races across the country, and $122 million ready for the fall, we're not slowing down heading into November," added Fairshake spokesman Geoff Vetter.

Key Numbers

- 32 U.S. House incumbents endorsed by Stand With Crypto in this announcement

- 3+ million online members in Stand With Crypto's network

- $122 million held by the Fairshake super PAC and affiliates for November races

- 49 winning candidates already supported through primary advertising spending

What to Watch

Stand With Crypto indicated it will follow up with Senate endorsements and support for non-incumbent candidates as the general election approaches. The outcome of November's House races could determine which party controls committee chairmanships—and thus legislative priorities—for digital assets in the next Congress.

The industry is watching whether Democrats can flip enough seats to reclaim the majority, which would shift key committee gavels to members like Costa who have signaled openness to working with crypto interests. Fairshake's $122 million war chest positions it as a major spender in competitive races across both chambers.