The post Sen. Sherrod Brown Loses Ohio Senate Seat After $40M Crypto PAC Campaign appeared on BitcoinEthereumNews.com.

TLDR Sen. Sherrod Brown (D-OH) lost Senate seat to Republican Bernie Moreno Pro-crypto super PAC Fairshake spent $40 million to unseat Brown Final vote: Moreno 50.5% (2.6M votes) vs Brown 46.1% (2.4M votes) Race became second-most expensive Senate contest in U.S. history 30% of Fairshake’s total $133 million spending focused on Ohio race Pro-crypto political action committees achieved a major electoral victory as Ohio Senator Sherrod Brown, Chairman of the Senate Banking Committee, lost his re-election bid to Republican challenger Bernie Moreno. The race, which became the second-most expensive Senate contest in U.S. history, saw pro-crypto super PAC Fairshake invest $40 million to defeat the Democratic incumbent. The final tallies showed Moreno securing 2.6 million votes (50.5%) compared to Brown’s 2.4 million votes (46.1%), according to The Associated Press. The results marked the end of Brown’s tenure as one of crypto’s most prominent critics in Congress. Fairshake’s $40 million investment in the Ohio race represented nearly a third of its total spending across all congressional races this election cycle. The super PAC deployed $133 million across 68 different contests nationwide, making the effort to unseat Brown its largest single-race investment. The concentrated spending in Ohio reflected the crypto industry’s strategic focus on removing Brown from his position as Senate Banking Committee chair. Cody Carbone, president of The Digital Chamber, a crypto lobbying organization, described Brown’s defeat as the “ultimate prize” for the industry. Moreno’s campaign partially centered on a pro-crypto agenda, with the candidate attending blockchain conferences to demonstrate his support for the industry. His victory came despite controversy surrounding his statements on other issues like immigration and abortion. The race attracted attention from prominent figures in both politics and technology. Ron Conway, a major Democratic donor and tech investor, notably cut ties with crypto PACs after they pledged an…

---

Filed under: News - @ November 6, 2024 10:27 am