Stand With Crypto, a pro-industry political watchdog originally launched by Coinbase, released statements of political support for the upcoming 2024 election on Friday—but refrained from endorsing any candidates in a handful of increasingly contentious Senate races. Industry.
The organization has thrown its support behind 39 House and Senate candidates — a near-perfect split of 20 Republicans and 19 Democrats. Notably, he has endorsed crypto attorney John Deaton, a Republican candidate for Senate in Massachusetts, who is running against him famously. Industry critic Senator Elizabeth Warren.
Perhaps the most impressive supporters of Stand With Crypto today were those who were not included. In Michigan, Arizona, and Ohio, the organization not only decided control of the upper chamber of Congress, but also refused to pick a side in three key battleground Senate races where all crypto has been highlighted as a campaign issue.
Fairshack — a $202 million pro-industry super PAC — also ran riot in those same races earlier this summer. Supported Millions in Coinbase—Michigan and Arizona—have chosen to throw back Democratic Senate candidates, even as their opponents embrace staunchly pro-crypto views.
In Michigan, for example, Fairshack committed $3 million to support Democrat Elisa Slokin, even though Slokin seemed skeptical of the industry before changing her tune and crossing party lines to vote to overturn the anti-crypto US Securities and Exchange Commission (SEC). Regulation Earlier this summer.
Slokin's opponent, Mike Rogers, has embraced the industry with enthusiasm, lobbying its leaders at various crypto conferences and networking with organizations like Stand With Crypto. Directly.
As disgruntled Republicans bemoan Fairshack's donations to these Democrats, PAC leadership pointed out Confirmation of support on Stand With Crypto's website for selected candidates.
Stand With Crypto did not immediately respond. DecryptThey asked us for comment on why the organization has stopped endorsing candidates for those three key candidates and whether it plans to provide any additional support before election day. Fershack also did not immediately respond. DecryptA request for comment on this story.
It came under Stand With Crypto Further investigation After giving Kamala Harris a “B” grade for her first comments on digital assets earlier this week as the Democratic presidential candidate. Although the rating is lower than former President Donald Trump's “A”, Trump did It was done strongly The industry for months, Harris said. two Sentences On this subject throughout her political life.
The team changed the rating to “N/A” or “Insufficient Information” following the upheaval. Executive director Logan Dobson tweeted: “It will now be more difficult for candidates to accept a scorecard result – any grade, positive or negative.”
Edited by Andrew Hayward.
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