Sherrod Brown Race Draws Over $100M in Crypto Spending

Sherrod Brown’s return to Ohio’s Senate race has drawn heavy spending from crypto-backed political groups seeking to support Republican incumbent Jon Husted. Fairshake and affiliated groups have spent nearly $56 million, while a committee backed by Gemini co-founders Tyler and Cameron Winklevoss added about $7.2 million. The roughly $63 million spent in the current race brings crypto-related spending against Brown across the 2024 and current elections to more than $100 million. Brown lost his Senate seat to Bernie Moreno in 2024, when crypto groups spent about $40 million opposing him. As Senate Banking Committee chair, Brown criticised crypto risks and advocated consumer protections, though he was also open to discussing stablecoin and digital-asset market rules. The industry viewed his influence over legislation as an obstacle. Recent polls show Brown narrowly ahead of Husted, with results close to the margin of error. Prediction markets put Brown’s win probability above 70%, an update from an earlier estimate of 68%. The race underscores crypto’s growing role in US politics and debate over whether targeting a prominent Democrat could weaken bipartisan support for digital-asset legislation. Its outcome may shape the regulatory debate, but will not by itself determine the fate of crypto market-structure bills.