Former Democratic Sen. Sherrod Brown has staged a comeback from Ohio in the Nov. 3 midterm election, frustrating the efforts of the crypto industry to block him from the Senate. He defeated t
Former Democratic Sen. Sherrod Brown has staged a comeback from Ohio in the Nov. 3 midterm election, frustrating the efforts of the crypto industry to block him from the Senate.
He defeated the incumbent Republican Jon Husted who is a crypto ally.
Notably, the latter supported the Digital Asset Market Clarity Act even though the landmark crypto bill failed to advance the Senate cloture in September due to opposition from Democrats.
Explained: Digital Asset Market Clarity Act (2:41)Brown, who served as the Ohio senator from 2007 to 2025, chaired the Senate Committee on Banking, Housing, and Urban Affairs throughout his tenure.
Well-known for his highly critical stance on cryptocurrencies, his chairmanship of the committee meant no major crypto bill could proceed.
As a result, the crypto industry's political action committees (PACs) spent $40 million to beat him in the 2024 U.S. elections. The bet proved to be successful as Brown lost the election to Republican Bernie Moreno, a blockchain entrepreneur.
Following his defeat, Tim Scott (R-SC) was appointed as the chair of the same committee and his steering the wheel had been instrumental in the signing of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act into law. The same committee also played a key role in the little progress, however unsuccessful, of the CLARITY Act.
As Brown announced his candidature for the Ohio Senate seat in the November 2026 election, the crypto industry again poured in millions of dollars to stop him.
Fairshake, the industry's leading PAC, spent $56 million to beat him.
Digital Freedom Fund, the PAC backed by Gemini crypto exchange founders Tyler and Cameron Winklevoss, spent $7.2 million to stop him.
In total, the crypto industry spent $63 million to block Brown in the November election, making him the industry's most expensive adversary.
But the industry's $63 million bet against the former Democrat Senator proved to be unsuccessful this time as he successfully took back his Ohio seat.
Democrats this afternoon are on track to secure at least a 50-seat majority in the House and have captured solid control of the Senate. The Donald Trump-led Republican Party is now going to lose its tight control of the U.S. Congress.
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