The U.S. crypto industry is spending about $63 million in an effort to stop former Senator Sherrod Brown from returning to Congress in Ohio, according to CoinDesk. Of that total, crypto super PAC Fairshake has put in nearly $56 million, while a political action committee tied to the Winklevoss brothers has added about $7.2 million. Including spending from the 2024 election cycle, the industry’s political outlays aimed at Brown have now topped $100 million over the past two years. Recent polling shows Brown holding a slight lead over current Senator Jon Husted, though most surveys still place the race within the margin of error. Prediction market Kalshi gives Brown a 68% chance of winning and also puts the odds of Democrats retaking control of the Senate at 68%. Brown previously served as chair of the Senate Banking Committee and did not advance crypto legislation during that period. CoinDesk said a Democratic Senate majority could put Elizabeth Warren in line for the committee chair, while Brown could also secure an influential committee role that may affect the progress of crypto market structure bills including the CLARITY Act.
According to CoinDesk, the U.S. crypto industry is spending about $63 million to try to prevent former Senator Sherrod Brown from returning to Congress in Ohio.
Fairshake, the crypto industry’s super PAC, has committed nearly $56 million. A political action committee tied to the Winklevoss brothers has added about $7.2 million. Including election spending from 2024, the industry’s political spending directed against Brown has now exceeded $100 million over the past two years.
Recent polling shows Brown with a slight edge over current Senator Jon Husted, although most polls still place the race within the margin of error. Prediction market Kalshi gives Brown a 68% chance of winning and also assigns a 68% probability to Democrats retaking control of the Senate.
Brown previously served as chair of the Senate Banking Committee and did not move crypto legislation during his tenure. CoinDesk reported that if Democrats regain control of the Senate, Elizabeth Warren could become chair of the Banking Committee, while Brown could also take on an important committee role, potentially affecting the progress of crypto market structure legislation such as the CLARITY Act.
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