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Sep 24 Sep 26 Sep 28 Sep 29 Oct 1 $85.3k $84.4k $83.5k $82.7k 24h High High $85,518 24h Low Low $83,182 Vol Vol $1.5B Market projections Odds by Myriad Today Below $84,000 Below $84k 54 % chance This week Below $84,000 Below $84k 51 % chance → Buy Bitcoin with USDT Powered by Jupiter $ 50 $ 100 $ 500 Buy Price data by CoinGecko CoinGecko More Bitcoin news and projections → 🗳️ Crypto Gives Up on Congress and Goes After Senators
Two weeks after the Clarity Act died in the Senate, the crypto industry picked its targets. Stand With Crypto, the advocacy group Coinbase started in 2023, named its first Senate endorsements on Wednesday. Their new message: the fight has moved from the Capitol to the campaign trail.
The group is backing Republican Jon Husted against Sherrod Brown, who used to run the Senate Banking Committee and has spent years as one of crypto’s loudest critics. If Brown wins, he gets a powerful seat on the committee that writes the rules for this industry. That’s why Ohio matters more than the other two races combined.
It also endorsed Republican Ashley Hinson in Iowa and Democrat Chris Pappas in New Hampshire, who is running against former Republican senator John Sununu. On the House side, they’re backing Iowa Republican Mariannette Miller-Meeks and Alabama Democrat Shomari Figures, with more advertising planned in six races. The group says it picks candidates on their crypto positions regardless of party, and endorsed 32 House incumbents back in August.
The money behind all this is enormous, but Stand With Crypto doesn’t donate directly. It grades candidates and turns out voters, and its executive director says its three million supporters are now focused entirely on electing pro-crypto candidates. But candidates it rates well tend to attract money from crypto-aligned PACs, and the Fairshake PAC just launched a $30 million campaign against Brown. Total crypto political spending this cycle is approaching $200 million.
As a reminder, the Clarity Act failed 49 to 50 with every Democrat voting against it, over concerns about Trump’s own crypto businesses. And yet Stand With Crypto is backing two more Democrats in the midterms. It’s a slightly counter-intuitive bet, but maybe it will pay off. We will find out soon enough…