Stand With Crypto, a crypto advocacy group backed by Coinbase, has released its first round of U.S. Senate endorsements, according to The Block. The group said it is backing Ohio Republican Senator Jon Husted, who is running against former Senate Banking Committee Chair Sherrod Brown, described in the report as skeptical of crypto. It also endorsed Ashley Hinson in Iowa and Chris Pappas in New Hampshire.
The endorsements came after a Sept. 15 procedural vote in the Senate failed to advance the Digital Asset Market Clarity Act, or CLARITY Act, a bill designed to create a federal regulatory framework for the crypto industry. Senate Democrats said they could not support legislation that would allow President Donald Trump to personally profit from the crypto sector.
Stand With Crypto Executive Director Mason Lynaugh said that after the Senate failed to move the CLARITY Act forward, the group’s more than 3 million advocates are now shifting their focus to electing pro-crypto candidates. Beyond the Senate races, the organization said it will increase ad spending in six House contests, including those involving Democratic Representative Don Davis and Republican Representative Bryan Steil.
Stand With Crypto, a crypto advocacy group backed by Coinbase, has announced its first round of U.S. Senate endorsements, according to The Block.
The group said it is backing Ohio Republican Senator Jon Husted. His opponent is former Senate Banking Committee Chair Sherrod Brown, who was described in the report as skeptical of crypto. Stand With Crypto also endorsed Ashley Hinson in Iowa and Chris Pappas in New Hampshire.
Endorsements follow failed Senate procedural vote on CLARITY Act
The endorsements came after a Sept. 15 procedural vote in the Senate failed to advance the Digital Asset Market Clarity Act, or CLARITY Act. The bill is intended to establish a federal regulatory framework for the crypto industry.
Senate Democrats said they could not vote for legislation that would allow President Donald Trump to personally profit from the crypto industry.
Group says its focus is shifting to elections
Mason Lynaugh, executive director of Stand With Crypto, said that after the Senate recently failed to move the CLARITY Act forward, the organization’s more than 3 million advocates are now turning their full attention to electing candidates who support crypto.
House races will also see more spending
In addition to the Senate endorsements, Stand With Crypto said it will increase ad spending in six House races, including the campaigns of Democratic Representative Don Davis and Republican Representative Bryan Steil.
The group said those newly endorsed House candidates all voted in favor of the CLARITY Act when it passed the House last year. It also endorsed additional House candidates including Representatives Shomari Figures and Mariannette Miller-Meeks.
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