The crypto industry is spending about $63 million in the Ohio Senate race to try to block Sherrod Brown from returning to the Senate. Tuesday’s vote has become one of the costliest industry efforts aimed at a single candidate, even as Brown holds a slight lead over Jon Husted in most polls.
Fairshake super PAC
Fairshake super PAC is supplying almost $56 million of that total, while Tyler and Cameron Winklevoss have added $7.2 million through their own PAC to defeat Brown this year. The combined spending is larger than the about $40 million the industry put behind Bernie Moreno two years ago.
Sherrod Brown and the Senate
Brown spent years atop the committee that needed to consent to crypto legislation, and the industry wants to avoid a repeat of that period. Since Brown was sidelined, the Senate passed a significant stablecoin bill and got within sight of the finish line on a market structure bill.
The numbers point in opposite directions for both camps. Polling places the Ohio race in the group of Senate tossups, but Brown still has a slight lead over Husted while Kalshi gives him a 68% chance of a Senate comeback and gives the wider Democratic Party a 68% chance of retaking the Senate.
If Brown returns and Senate and Democrats control the chamber, seniority could put him back in a prominent role. He previously led a subcommittee on the Senate Agriculture Committee, and the Senate’s leadership roles are based on seniority. That makes Tuesday’s vote more than a single race: it is a test of whether the crypto industry can keep one of its most persistent opponents out of a position that could shape the next round of legislation.
