SKN | Crypto PACs Spend More Than $52 Million Against Sherrod Brown in Ohio Senate Race

Key Points:

• Crypto-aligned political action committees have spent more than $52 million opposing Democrat Sherrod Brown and supporting Republican Senator Jon Husted in Ohio’s 2026 Senate race.
• Fairshake affiliate Defend American Jobs reported $46.6 million in media spending, exceeding its initially announced $30 million commitment against Brown.
• The spending reflects the cryptocurrency industry’s broader effort to influence the next US Congress and shape legislation governing digital assets.

Cryptocurrency-backed political groups are expanding their spending in the 2026 US midterm elections, with Ohio’s Senate contest emerging as a major battleground over the industry’s regulatory future. The scale of the advertising campaign against former Senator Sherrod Brown underscores how political funding has become an increasingly important tool for digital asset companies seeking a more favorable legislative environment.

According to Federal Election Commission filings reported Thursday, Defend American Jobs, an affiliate of the Fairshake political action committee (PAC), spent approximately $46.6 million on media opposing Brown and supporting Republican incumbent Jon Husted. The figure exceeds by more than 50% the $30 million that Fairshake initially announced in September it planned to spend against Brown.

Fairshake is largely funded by cryptocurrency companies, including Coinbase and Ripple Labs. Its spending in Ohio places the race among the industry’s most significant political investments ahead of the November midterm elections.

Crypto Industry Expands Ohio Advertising Campaign

Defend American Jobs is not the only crypto-aligned group spending heavily in the race. The Digital Freedom Fund, a super PAC created by Gemini co-founders Tyler and Cameron Winklevoss, reported approximately $3 million in advertising expenditures during the latest reporting period. That brought its total media purchases opposing Brown and supporting Husted to more than $5.9 million.

Combined spending by the two groups has surpassed $52 million, illustrating the financial resources aligned with the cryptocurrency industry’s effort to influence the outcome.

Brown has criticized the campaign against him, arguing that his record of challenging powerful industries has made him a target. In an interview aired Friday on Pod Save America, he said he had spent his career taking on Wall Street, pharmaceutical companies and the oil industry, adding that crypto-backed groups were spending tens of millions of dollars because they expected him to hold Husted accountable.

The advertising campaign comes as Ohio voters have already begun early voting, with fewer than three weeks remaining before Election Day at the time of the reported filings.

A Repeat of the 2024 Senate Battle

The current campaign builds on the industry’s previous efforts to prevent Brown from returning to the Senate. In 2024, Fairshake spent approximately $41 million supporting Republican Bernie Moreno and opposing Brown, who was seeking reelection.

Brown chaired the Senate Banking Committee and was among the more vocal lawmakers challenging cryptocurrency industry proposals and related regulatory policies. His potential return to Congress could therefore matter to companies seeking legislation that establishes clearer rules for digital asset markets.

The latest expenditures exceed Fairshake’s reported spending in the 2024 Ohio contest, indicating that the industry is prepared to commit even greater resources to influencing the race.

However, campaign spending alone does not establish how voters will respond to the advertisements or determine the eventual election result.

Crypto PACs Target Other Congressional Races

Ohio is part of a broader campaign to support candidates aligned with cryptocurrency industry priorities. Defend American Jobs also reported spending more than $6.7 million opposing independent Senate candidate Dan Osborn in Nebraska. Osborn is challenging Republican Senator Pete Ricketts, who supported the Digital Asset Market Clarity Act and the Guiding and Establishing National Innovation for US Stablecoins Act.

Fairshake has openly stated its intention to support pro-crypto candidates in 2026, seeking a Congress more receptive to the industry’s policy objectives. In January, the PAC reported holding $193 million in cash ahead of the election cycle.

Other industry-aligned organizations are also active. The Fellowship committee, backed by Cantor Fitzgerald and Anchorage Digital, reported spending more than $11 million between August 2025 and August 2026, primarily on advertising supporting House and Senate candidates.

The combined activity demonstrates that cryptocurrency-related political spending extends beyond a single company or race. Industry participants are directing resources toward congressional contests where the balance of power could influence future legislation, regulatory oversight and the treatment of digital asset businesses.

Outlook

The Ohio Senate race will provide an important test of whether substantial cryptocurrency-backed political spending can help elect candidates aligned with the industry’s priorities. More broadly, the 2026 midterms could influence the legislative prospects for digital asset market structure and stablecoin regulation. The outcome will depend on voter decisions across multiple competitive races, while the scale of PAC spending signals that cryptocurrency policy has become a significant issue in the industry’s political strategy.