Crypto PAC Doubles Down on Ohio After CLARITY Act Defeat Fairshake, the crypto industry's leading super PAC, has committed $30 million to oppose Sherrod Brown in the Ohio Senate race, days af
Fairshake, the crypto industry's leading super PAC, has committed $30 million to oppose Sherrod Brown in the Ohio Senate race, days after the Senate failed to advance the Digital Asset Market Clarity Act. The campaign, which kicked off on September 22, includes advertising and direct mail targeting Brown, and represents one of the largest single-race expenditures by a crypto-aligned super PAC in the current cycle.
The CLARITY Act failed to survive a Senate procedural vote, with a 49-50 tally falling well short of the 60 supporters required to advance the bill.The bill would have created a new federal regulatory framework for the crypto industry but faced growing opposition from Democrats, partly over concerns about President Donald Trump's investments in the sector.Many in the industry and in Congress suggested the legislation was effectively dead following the failed vote.
Fairshake described the effort against Brown as part of a broader response to Democrats blocking the CLARITY Act, a business-friendly bill that would have shielded the crypto industry from a regulatory crackdown under a future Democratic administration.
Brown, a former senator and longtime crypto skeptic, is challenging Republican Sen. Jon Husted in a closely watched Ohio Senate race.Brown's critical view of the crypto sector had long been a thorn in the side of the businesses that backed Fairshake and its affiliates, mainly Coinbase, Ripple Labs, and a16z.
This is not the first time Fairshake has set its sights on Brown. During the 2024 election cycle, the super PAC spent $41 million trying to unseat the longtime Ohio Democrat.Once Fairshake's spending helped unseat Brown and replace him with pro-crypto Senator Bernie Moreno, the Senate Banking Committee dealt successfully with a major stablecoin bill and nearly reached the finish line on the CLARITY Act.
Fairshake is primarily funded by Coinbase, Ripple, and Andreessen Horowitz, and supports candidates from both parties who favor crypto-friendly policies.The PAC reported $108 million on hand at the end of August.The group said it will soon announce additional spending in House and Senate races supporting both Democrats and Republicans.
Brown has reportedly moderated his public views on cryptocurrency since his 2024 defeat, though it has not been enough to keep Fairshake from making him the primary target of its latest offensive.
Sources:CoinDesk: Crypto Clarity Act flames out in failed U.S. Senate voteCNBC: Senate cloture vote on Clarity Act failsBenzinga: Crypto Super PAC launches $30 million campaign against Sherrod Brown
