Brief
Crypto‑backed PAC Spends $11 million to Back Ohio Republican Senator Jon Husted
The Defend American Jobs PAC, linked to the Coinbase‑ and Ripple‑backed Fairshake group, spent $11.4 million on media supporting Husted and opposing Brown, according to a Federal Election Commission filing.
By Felo News Desk · Published
A political action committee tied to the cryptocurrency industry has spent more than $11 million on television and digital ads for Republican Senator Jon Husted and against Democrat Sherrod Brown in Ohio’s U.S. Senate race, a filing with the Federal Election Commission (FEC) revealed on Thursday.
The Defend American Jobs PAC, affiliated with Fairshake, reported $11.4 million in media buys that targeted Husted’s campaign and sought to block Brown’s return to the Senate. The PAC’s spending is part of Fairshake’s earlier pledge to spend $30 million in the Ohio race, a move aimed at preventing Brown, a former chair of the Senate Banking Committee and a vocal critic of pro‑crypto legislation, from winning the seat.
In a September 24 filing, the PAC disclosed the ad purchases, which were made as part of a broader strategy to influence Ohio’s political landscape. The industry’s involvement in the race follows a history of significant outside spending in Ohio, where the 2024 contest between Brown and Republican Bernie Moreno saw more than $300 million spent by outside groups, with the crypto‑aligned PAC and its affiliates contributing about $41 million to oppose Brown and support Moreno.
Husted, who was appointed to the Senate seat by Governor Mike DeWine after former Senator JD Vance was elected vice president, won the 2024 election with 50.2 % of the vote to Brown’s 46.4 %. The new PAC spending comes as the crypto industry seeks to shape policy in states where lawmakers are divided over digital asset regulation.
Cointelegraph reached out to both Husted’s and Brown’s campaigns for comment but did not receive an immediate response. Brown had previously stated that “cryptocurrency is a part of America’s economy, and becoming more commonplace in Ohio and throughout the country” and that his goal is to expand opportunity while protecting citizens.
Other Ohio races have also attracted crypto‑industry support. Republican gubernatorial candidate Vivek Ramaswamy, who has spoken favorably about crypto, received financial backing from co‑founders of the Trump family’s crypto firm World Liberty Financial and other crypto‑aligned donors. Ramaswamy faces Democrat Amy Acton in the November election.
Key facts
- Defend American Jobs PAC spent $11.4 million on ads for Husted and against Brown (cointelegraph.com)
- PAC is affiliated with Fairshake, backed by Coinbase and Ripple Labs (cointelegraph.com)
- Crypto‑aligned PAC and affiliates spent about $41 million in 2024 to oppose Brown and support Moreno (cointelegraph.com)
- Husted won the 2024 Ohio Senate race with 50.2% of the vote (cointelegraph.com)
- Brown has been a vocal critic of pro‑crypto legislation (cointelegraph.com)
Background
The crypto industry has increasingly financed political campaigns in states with active regulatory debates. Earlier this year, the Digital Asset Clarity Act stalled in the Senate, but the industry remains active in shaping policy. Ohio’s Senate race is one of several key contests highlighted in Felo’s recent coverage of midterm Senate battles.
Why it matters
The spending illustrates the crypto industry’s growing influence on state politics and its efforts to shape legislation that could affect digital asset regulation.
What happens next
The PAC’s spending may impact Ohio’s upcoming midterm elections, and further scrutiny of crypto‑industry political contributions could follow.
Sources
- [1] cointelegraph.com — originally reported as “Crypto Industry Spending Kicks off in Ohio Senate Race, with $11M Oposing Sherrod Brown’s Return”
