Crypto PAC Spends $30 Million Against Ohio Democrat Sherrod Brown
Fairshake, a super PAC backed by major crypto firms, announced a $30 million ad campaign targeting Sen. Sherrod Brown in Ohio.
Key points
- Fairshake announced a $30 million ad campaign targeting Sen. Sherrod Brown in Ohio.
- The spending follows the Senate's rejection of the Digital Asset Market Clarity Act.
- Democratic operatives criticize the move as partisan, noting no similar spending targets Republicans.
Fairshake, a super PAC funded by major cryptocurrency firms, announced it will spend $30 million in Ohio. The money targets Sen. Sherrod Brown, a Democrat, in his race against Sen. Jon Husted. This move follows the Senate’s rejection of the Digital Asset Market Clarity Act.
All Senate Democrats voted against the bill that would have regulated the industry. Republicans blocked the measure because it included provisions to stop President Trump from earning crypto profits. The industry now directs its financial resources specifically at Democratic opponents.
Targeting Brown Over Congressional Vote
Brown is not currently a senator and did not vote on the Clarity Act. Four Republicans voted against the bill, yet they face no similar spending. This discrepancy suggests the group operates with partisan intent despite claiming neutrality.
The crypto industry spent $41 million against Brown in the 2024 cycle. It has spent hundreds of millions on congressional campaigns since 2024. Brown’s campaign now highlights Husted’s support for data centers and rising utility rates.
Democratic Operatives Question Partisan Intent
Party operatives argue the spending proves the industry’s bipartisanship is false. Chris Meagher, a former Pentagon spokesperson, mocked the group’s non-partisan label. He noted the disparity between spending on Brown and Republican Sen. Susan Collins.
Fairshake did not respond to requests for comment on its strategy. The group’s actions contrast with its public statements about working with both parties. This silence leaves questions about its true political alignment unanswered.
Legislative Prospects Remain Uncertain
Sen. Kirsten Gillibrand says pro-crypto Democrats remain committed to passing the legislation. She joined several colleagues in a statement reaffirming their bipartisan approach. However, Sen. Cynthia Lummis, a top crypto advocate, called the bill dead.
Lummis told HuffPost she is not optimistic about finding support for the measure. She questioned whether Gillibrand’s statement was designed to discourage further spending. The political dynamics now heavily influence the legislative timeline.
