Crypto-focused super PACs spent more than $176 million across 100+ races in the 2026 US midterms.<\/p>\n
However, their biggest campaign ended in defeat after Democrat Sherrod Brown defeated Republican Jon Husted to win Ohio\u2019s Senate contest despite a $64 million effort to stop him.<\/p>\n
According to NBC figures, Brown got<\/a> 2.24 million votes, making up about 49.7% of the total cast, with Husted receiving 2.06 million, or 45.5%, with 97.3% of the vote counted.<\/p>\n Heading into this particular showdown, crypto groups had spent more than $64 million trying to prevent that exact outcome, with Fairshake, the industry\u2019s flagship super PAC, accounting for $56.5 million of the spending, and Digital Freedom Fund, supported by the Winklevoss twins who co-founded the Gemini exchange, contributing another $7.5 million.<\/p>\n Brown frequently criticized the crypto sector during his time as chair of the Senate Banking Committee, but during the campaign, he seemed to have somewhat softened his stance, even telling the New York Times that crypto \u201chas a part, a role, in our economy.\u201d Still, he pledged to take on what he called the \u201ccrypto\/data center crowd.\u201d<\/p>\n Recall that in 2024, Brown, who had served for three terms as Ohio senator, lost<\/a> to Republican Bernie Moreno, garnering 2.59 million (46.4%) votes to Moreno\u2019s 2.8 million (50.2%). That race was the biggest<\/a> single target of crypto money at the time and drew more ad spending than any Senate contest in history, with the digital asset industry backing the Republican candidate with a $40 million war chest.<\/p>\n The latest spending didn\u2019t produce the same outcome, and researcher Molly White, who has been tracking which crypto and AI players have been supporting with their money, described<\/a> it as a \u201cHUGE loss for crypto super PACs.\u201d<\/p>\n There were also losses<\/a> for other industry-backed candidates in Texas, Alabama, Iowa, Wisconsin, and Michigan. But there was a reprieve in Colorado\u2019s 8th District, where Democrat Manny Rutinel, who had gotten support from groups including Ripple co-founder Chris Larsen\u2019s You Can Push Back PAC, beat incumbent Gabe Evans by a sizable margin.<\/p>\n Crypto groups also won in Nebraska, where Republican Pete Ricketts defeated independent Dan Osborn. Fairshake, funded mainly by Coinbase, venture capital giant Andreessen Horowitz, and Ripple, had spent about $14.1 million in the race to back Ricketts, who has been a supporter of\u00a0industry-friendly crypto legislation from his perch on the Senate Banking Committee.<\/p>\n That said, the broader political picture has become less favorable to the industry, with Democrats securing control<\/a> of the House and Senate. According to estimates at the time of writing, the party is set to capture 258 seats in the House and at least 54 in the Senate, having flipped 29 and 7 seats in the respective chambers.<\/p>\n Before the results, CryptosRus had warned<\/a> that a victory for the Dems could further delay the CLARITY Act, which they had blocked<\/a> in September.<\/p>\n The post Crypto PACs Lose Key Races After Spending Millions in Midterms<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Crypto-focused super PACs spent more than $176 million across 100+ races in the 2026 US midterms. However, their biggest campaign ended in defeat after Democrat Sherrod Brown defeated Republican Jon Husted to win Ohio\u2019s Senate contest despite a $64 million effort to stop him. Brown Beats Husted Despite $64M Crypto Campaign According to NBC figures, […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-247725","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/247725"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=247725"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/247725\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=247725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=247725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=247725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Democrats Take Congress<\/h2>\n