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Policy Regula
2026-09-28 16:55:33

Crypto-backed PAC reports $11.4 million ad buy backing Jon Husted in Ohio Senate race

Defend American Jobs, a political action committee aligned with and largely funded by the crypto industry, disclosed in a filing with the U.S. Federal Election Commission that it has spent $11.4 million on media advertising to support Republican Jon Husted and oppose Democrat Sherrod Brown in the race for an Ohio U.S. Senate seat. The PAC is affiliated with Fairshake, the political network backed by Coinbase and Ripple Labs. The ad campaign forms part of Fairshake’s earlier pledge to put an initial $30 million toward efforts aimed at blocking Brown’s return to the Senate. Brown, a former chair of the Senate Banking Committee, has been one of Congress’ more critical voices on crypto legislation and policy. In the 2024 Ohio Senate election, Brown’s contest with Republican Bernie Moreno drew more than $300 million in spending from outside groups including Fairshake. Crypto-related PACs and their affiliates spent about $41 million opposing Brown and supporting Moreno, who ultimately won with 50.2% of the vote. Husted now holds the seat by appointment from Ohio Governor Mike DeWine, replacing JD Vance, who was elected U.S. vice president in 2024.

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Crypto-backed PAC reports $11.4 million ad buy backing Jon Husted in Ohio Senate race
Policy and Re
2026-09-21 18:15:22

Fairshake plans $30 million push against Sherrod Brown in Ohio Senate race

Fairshake, the cryptocurrency-backed political action committee funded largely by Coinbase and Ripple Labs, plans to spend $30 million opposing Democrat Sherrod Brown’s effort to return to the US Senate from Ohio in 2026. Fairshake spokesperson Geoff Vetter confirmed the plan to Cointelegraph, backing up earlier reporting from The New York Times, and said the PAC expects to announce additional spending before the Nov. 3 midterm elections. The group was already a major force in Ohio’s 2024 Senate contest, where it spent about $41 million supporting Republican Bernie Moreno and opposing Brown. That race drew more than $300 million in combined spending from Fairshake and other PACs, and Brown ultimately lost to Moreno by roughly four points. The new spending plan comes as crypto-aligned political groups prepare for a broader fight over key 2026 races, with control of both the House of Representatives and the Senate on the line. Cointelegraph said Brown’s campaign did not immediately respond to a request for comment, while Vetter declined to discuss Fairshake’s midterm strategy in detail. He had said in August that the PAC held a $122 million war chest ahead of the election.

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Fairshake plans $30 million push against Sherrod Brown in Ohio Senate race
C1 Fund
2026-09-01 11:20:43

C1 Fund says Ripple Labs is now its largest holding at 17.5% of net assets

C1 Fund, a publicly traded closed-end fund focused on private crypto companies, said Ripple Labs equity is now its largest position, accounting for 17.5% of net assets. That is slightly above the 16.9% allocation to Payward, the parent company of Kraken. The disclosure came in the fund’s fiscal second-quarter 2026 report released on Aug. 31. C1 Fund holds stakes in 11 private crypto companies, including Kraken, BitGo, Chainalysis and ConsenSys. As of June 30, the fund reported net asset value of $42.6 million and NAV per share of $6.49. Its board also authorized share repurchases of up to $3 million. The fund’s stock was trading at $2.87, representing an about 56% discount to NAV per share, with a market capitalization of roughly $19.1 million. The item was cited by BeInCrypto.

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C1 Fund says Ripple Labs is now its largest holding at 17.5% of net assets
Policy and Re
2026-08-18 19:54:16

Fairshake affiliate spends over $2 million in Florida primary ads with little focus on crypto

A political action committee linked to Fairshake, the crypto-backed super PAC funded mainly by Coinbase and Ripple Labs, has spent more than $2 million opposing Democratic candidate Oliver Gilbert in Florida’s 24th congressional district, according to Federal Election Commission records cited by Cointelegraph. The spending stands out because none of the Democratic primary candidates had made digital assets a major campaign issue before the ads appeared. Gilbert is running for the seat held by Representative Frederica Wilson, who voted against both the CLARITY Act and the GENIUS Act and later endorsed him at a June 22 event. Another Democratic contender, Florida state senator Shevrin Jones, completed a Stand With Crypto questionnaire and received a “strongly supports” rating, while an early August poll showed him ahead of Gilbert. Gilbert said the ads were backed by “Trump’s tech billionaire buddies” and described them as an attempt by “crypto con artists” to buy the primary. Fairshake defended the ads’ factual basis but did not explain the spending decision. The group said in January that it held a $193 million war chest, and by June had already deployed more than $82 million in primaries and special elections ahead of the 2026 midterms.

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Fairshake affiliate spends over $2 million in Florida primary ads with little focus on crypto