Crypto PACs spend $52M against Sen. Sherrod Brown in Ohio Senate race

How much crypto money is going into Ohio's Senate race

At least two political action committees aligned with the cryptocurrency industry have spent more than $52 million on ads opposing Senator Sherrod Brown of Ohio in his 2026 re-election bid.

The bulk of that spending — $46.6 million — came from Defend American Jobs, an affiliate of Fairshake, a PAC largely funded by Coinbase and Ripple Labs. Those figures were reported in Federal Election Commission filings on Oct. 16, marking a sharp increase from the $30 million Fairshake said in September it initially planned to spend.

A second group, the Digital Freedom Fund created by Gemini co-founders Tyler and Cameron Winklevoss, reported about $3 million in ad spending this week, bringing its total to more than $5.9 million in the race.

Brown pushes back on the ads

Brown addressed the crypto-funded attack ads in a Friday interview on Pod Save America.

"Jon Husted is their boy," Brown said, referring to the Republican incumbent he is challenging. "They know he's their guy, they know I'm going to hold him accountable and I guess it's a perfect storm, so they spend literally tens and tens of millions of dollars."

Husted voted in favor of the Digital Asset Market Clarity Act and the Guiding and Establishing National Innovation for US Stablecoins Act during his time in Congress.

What this spending means for crypto policy

Fairshake has been open about its goal to back pro-crypto candidates in the 2026 midterms. The PAC reported holding $193 million in cash on hand ahead of the elections.

The spending in Ohio already exceeds Fairshake's 2024 effort, when it spent $41 million supporting Republican Bernie Moreno and opposing Brown, who was running for re-election at the time.

Brown, a Democrat, chaired the Senate Banking Committee and was one of the most outspoken lawmakers challenging policies favored by the crypto industry.

Fairshake's Defend American Jobs affiliate also reported spending more than $6.7 million to oppose Independent candidate Dan Osborn in Nebraska's Senate race, where Osborn is running against Republican Pete Ricketts.

Other crypto-aligned groups 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 on media supporting House and Senate candidates.

Cointelegraph reached out to Fairshake and Husted's campaign for comment but did not receive an immediate response.

Early voting has already been underway for 10 days in Ohio, with less than three weeks until the Nov. election.

Key numbers

• $46.6 million — Fairshake affiliate Defend American Jobs spent on Ohio ads


• $30 million — Fairshake's initial planned spending for Ohio, later increased by more than 50%


• $5.9 million — Digital Freedom Fund's total spending in the race


• $41 million — Fairshake's spending in the 2024 Ohio Senate race


• $193 million — Fairshake's reported cash on hand before the 2026 midterms

What is confirmed

According to FEC filings, crypto-aligned PACs have spent over $52 million opposing Sherrod Brown in Ohio. The spending exceeds Fairshake's previous efforts in the same race. Brown's criticism of the ads and his ties to Husted's pro-crypto voting record are matters of public record.

What is still unclear

It is unclear whether the spending will be enough to tip the Ohio Senate race. Responses from Fairshake and Husted's campaign regarding the ads were not immediately available.

Why this matters for crypto investors

The 2026 midterms could shape the direction of U.S. crypto regulation. Lawmakers friendly to the industry, like Husted, may advance policies that ease oversight, while critics like Brown could push for stricter rules. The scale of spending signals how much the crypto industry stands to gain or lose from the election outcome.

Sources

• Cointelegraph