US Senate · Republicans · Federal Reserve (FED) · Cointelegraph
Crypto PAC spends $11 million to oppose Sherrod Brown in Ohio
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Fairshake pledged an initial $30 million on media opposing the Democratic candidate in Ohio’s Senate race in what some see as a repeat of spending by the crypto industry in 2024.
Key facts
- In a Thursday filing with the Federal Election Commission (FEC), the Defend American Jobs PAC, affiliated with the Coinbase- and Ripple Labs-backed group Fairshake, reported spending $11.4 million
- In 2024, the Ohio Senate race between Brown, then an incumbent, and Republican Bernie Moreno resulted in more than $300 million in spending from outside groups like Fairshake
- A political action committee (PAC) aligned with and largely funded by the cryptocurrency industry reported spending more than $11 million on ads supporting Republican Jon Husted and opposing Democrat
- As a gubernatorial candidate, the Republican has financial support from three co-founders of the Trump family’s crypto company, World Liberty Financial: Chase Herro, Zak Folkman and Zachary Witkoff
Summary
Update (Sept. 28, 8:52 pm UTC):. A political action committee (PAC) aligned with and largely funded by the cryptocurrency industry reported spending more than $11 million on ads supporting Republican Jon Husted and opposing Democrat Sherrod Brown in a race for one of Ohio’s seats in the US Senate. In a Thursday filing with the Federal Election Commission (FEC), the Defend American Jobs PAC, affiliated with the Coinbase- and Ripple Labs-backed group Fairshake, reported spending $11.4 million on media supporting Husted and opposing Brown’s potential return to the Senate. Sept. 24 filing from Defend American Jobs PAC.