Crypto Tremendous PAC With $140M Warfare Chest Threatens Sherrod Brown’s 2026 Senate Bid

A well-funded crypto tremendous PAC is gearing up for one more battle with former Senate Banking Committee chair Sherrod Brown, elevating the stakes for Ohio’s 2026 Senate race.

Key Takeaways:

• Fairshake spent over $40M in 2024 to unseat Sherrod Brown and has now raised $140M for 2026.
• Brown’s previous opposition to pro-crypto laws makes him a main goal for the PAC.
• His possible opponent, Republican Jon Husted, has a pro-crypto report.

Fairshake, a political motion committee bankrolled by main cryptocurrency gamers together with Coinbase, Ripple, and enterprise capital big Andreessen Horowitz, spent over $40 million in 2024 to assist unseat Brown, a vocal critic of the {industry}.

That effort, the PAC’s largest single-race funding, succeeded in electing Republican Bernie Moreno, a pro-crypto businessman, flipping a key seat on the Banking Committee.

Fairshake Reloads With $140M to Goal Sherrod Brown Once more

Fairshake has replenished its coffers with greater than $140 million and is signaling that Brown stays in its sights, in keeping with a Thursday report from Politico.

“We are going to proceed to help pro-crypto candidates and oppose anti-crypto candidates, in Ohio and nationwide,” spokesperson Josh Vlasto reportedly informed the outlet.

Brown’s tenure as Banking Committee chair from 2021 to 2025 was marked by resistance to industry-friendly laws, citing considerations over cash laundering and illicit finance.

His stance put him at odds with a rising faction of Democrats warming to crypto, making a fault line the {industry} exploited in 2024.

The political calculus has shifted for 2026. Brown’s potential opponent, Republican incumbent Jon Husted, appointed to the Senate after JD Vance grew to become vice chairman, has been usually supportive of the {industry}.

Whereas Husted has been quiet on crypto specifics, his report in state workplace and up to date votes align with pro-crypto positions.

Brown’s comeback bid faces not simply the problem of an entrenched incumbent, but additionally questions on his seniority if he returns.

Senate guidelines would strip him of his prior Banking Committee management except Democrats change them, a possible flashpoint given his strained relationship with the {industry}.

Regardless of his 2024 defeat by greater than three share factors, Brown stays Democrats’ high hope to reclaim the Ohio seat.

He outperformed Kamala Harris by greater than seven factors within the state, at the same time as crypto-backed spending fueled a GOP monetary edge.

Fairshake PAC Backs Professional-Crypto Candidates

Created by a handful of crypto corporations in 2023, Fairshake “helps candidates dedicated to securing the US as the house to innovators constructing the following era of the web” whereas pushing for “a clearer regulatory and authorized framework” for the blockchain sector.

Main donors behind Fairshake embrace enterprise capital agency Andreessen Horowitz, and crypto giants Coinbase and Ripple.

Coinbase not too long ago contributed $25 million, with Ripple Labs, Uniswap Labs, and crypto entrepreneur Robert Leshner additionally backing the trouble.

Coinbase’s chief coverage officer, Faryar Shirzad, mentioned the corporate is dedicated to preventing for shopper protections and monetary empowerment for digital asset holders.

“We’re constructing an aggressive, focused technique for subsequent 12 months to make sure that pro-crypto voices are heard in key races throughout the nation,” Fairshake spokesperson Josh Vlasto mentioned.

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