Former U.S. Sen. Sherrod Brown defeated Republican Sen. Jon Husted in Ohio’s Senate race, dealing a setback to crypto-focused political action committee Fairshake as Democrats regained control of the chamber.
Fairshake directed $30 million toward this year’s Ohio contest, targeting Brown. The result reverses the group’s 2024 success against him: Fairshake spent $12 million backing Republican Bernie Moreno, who defeated Brown that year. Crypto PACs and the broader industry also spent millions of dollars in 2024 to influence political races.
Brown previously chaired the Senate Banking Committee and called for action against using cryptocurrency to finance terrorism or evade sanctions. Husted supported several crypto bills, including the Clarity Act, and received an A rating from crypto advocacy group Stand With Crypto. Brown received an F rating.
Brown may become chairman of the Senate Agriculture Committee under Democratic control. The panel has jurisdiction over digital assets and prediction markets.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to [email protected].
