As the U.S. midterm elections draw near, Congressional Republicans find themselves facing significant challenges, with implications for the cryptocurrency landscape. Advocacy group Stand With Crypto, initially established by Coinbase to champion retail investors’ interests, is ramping up its political activities. The organization recently announced a series of candidate endorsements aligned with its pro-crypto agenda, alongside findings from a new poll highlighting the uncertain allegiance of voters regarding which party serves as the better advocate for cryptocurrencies.
On Thursday, Stand With Crypto endorsed candidates in six critical races, backing congressional incumbents such as Republican Zach Nunn from Iowa and Democrat Don Davis of North Carolina, both of whom have demonstrated support for the crypto industry. The group is committed to mobilizing its membership to ensure voter turnout and has pledged funding for media campaigns to propagate their message. Additionally, they will actively oppose candidates whose records are perceived as detrimental to crypto interests, with plans to disclose further endorsements as the electoral season progresses.
In a recent survey commissioned by Stand With Crypto, which explored the attitudes of crypto-owning voters in pivotal battleground states, the results indicate a divided political landscape. While the Republican Party holds a lead among these voters—cited at 45% in favor compared to 26% for Democrats—neither party has cemented a dominant position as the industry’s legislative champion. The survey revealed that a substantial 64% of crypto holders expressed strong enthusiasm for supporting candidates who advocate for pro-crypto policies, underscoring a motivated electorate.
The outcome of the midterm elections could have a lasting impact on cryptocurrency legislation. Despite the potential passage of the Digital Asset Market Clarity Act before the elections, several pressing legislative needs remain unresolved, including reforms to the U.S. tax system concerning digital assets and the establishment of a U.S. strategic bitcoin reserve, as previously mandated by former President Donald Trump. The shifting congressional balance suggests that if Democrats assume control of one or both chambers, crypto may not retain the priority it once held under Republican leadership.
Current predictions from the market firm Kalshi indicate a greater than 84% chance that Democrats will secure a majority in the House, with Senate predictions appearing much closer to a coin flip.
In addition to Nunn and Davis, Stand With Crypto has also endorsed other House lawmakers, including Nevada Democrat Susie Lee, New York Republican Mike Lawler, Ohio Democrat Greg Landsman, and Pennsylvania Republican Rob Bresnahan. As the 2026 elections loom, Stand With Crypto anticipates a surge in membership, aiming to bolster its political influence in the evolving crypto regulatory environment.
