Crypto-backed political groups are again pouring millions into Ohio’s elections. Fairshake plans to spend $30 million targeting Democrat Sherrod Brown in the Senate race against Republican Jon Husted. Its affiliate, Defend American Jobs, reported $11.4 million in advertising expenditures supporting Husted and opposing Brown. Brown previously chaired the Senate Banking Committee and challenged several crypto industry priorities.
Senate Spending Returns
The latest spending follows the 2024 Ohio Senate contest between Brown and Republican Bernie Moreno. Outside groups spent more than $300 million in 2024. Crypto-aligned groups alone spent roughly $41 million supporting Moreno and opposing Brown. Moreno ultimately won the election.
Consequently, Fairshake’s renewed Ohio campaign places crypto policy into a Senate contest this cycle. The move follows the Senate’s failure to advance the CLARITY Act.
Crypto Links Extend Statewide
Additionally, crypto-linked donors are supporting Republican gubernatorial nominee Vivek Ramaswamy. Three World Liberty Financial co-founders, Chase Herro, Zak Folkman, and Zachary Witkoff, contributed the legal maximum. His V-PAC has received $20 million from Jeff Yass and $6 million from Ross Stevens.
Moreover, Ramaswamy has promoted policies that could expand Ohio’s use of digital assets. His campaign accepts cryptocurrency donations, adding a broader connection between Ohio politics and crypto.
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