Victory for bitcoiners: $40 million in crypto-backed ads unseat Ohio Senator who wanted

Blockchain entrepreneur Bernie Moreno defeated three-term incumbent Senator Sherrod Brown, D-Ohio, in a fiercely contested race with implications for US Senate control.

The Ohio contest became a flashpoint for cryptocurrency advocates who funnelled an unprecedented $40 million to defeat Brown, a leading voice for stricter crypto regulation.

Moreno, a former luxury car dealer with little political name recognition, gained momentum with support from a pro-crypto PAC that funded five ads to raise his profile.

Brown’s defeat marks a significant shift, with the Ohio race drawing more ad spending than any other Senate contest in history and becoming the top target for crypto industry contributions this election cycle, CNBC reported.

Crypto supporters jubilant 

Crypto supporters, including Ripple co-founder Chris Larsen, celebrated Brown’s loss, linking it to dissatisfaction with President Joe Biden’s regulatory approach. “This is fallout from Biden’s choice to empower Sen. Elizabeth Warren on financial oversight,” Larsen said.

Throughout his tenure, Brown had been unpopular with crypto enthusiasts, aligning with Warren in questioning digital tokens’ links to terrorism and pushing for tighter regulation.

His vocal anti-crypto stance on social media made him a “crypto public enemy” in the eyes of industry figures like Tyler Winklevoss, who took to X (formerly Twitter) to declare, “The crypto army is striking!”

Quick Reads

View All

Bolivia overhauls gold-buying rules after past irregularities

EU push to phase out ‘high-risk’ tech sparks backlash from China’s Huawei

Coinbase CEO Brian Armstrong echoed this sentiment, touting what he called the “most pro-crypto Congress ever.”

According to a tracker by Coinbase’s Stand With Crypto Alliance, 224 pro-crypto candidates won House seats, while 14 secured Senate victories, outpacing anti-crypto candidates.

Coinbase, battling the Securities and Exchange Commission (SEC) over allegations of selling unregistered securities, gave more than $75 million to crypto-friendly PACs, including $25 million pledged for the 2026 midterms.

Armstrong contributed over $1.3 million individually. Industry backers now hope the new Congress will shift regulatory oversight from the SEC to the traditionally lenient Commodities Future Trading Commission.

“Americans want clear rules for digital assets,” Armstrong said on X. “This Congress can deliver that.”

The Fairshake-affiliated PAC Defend American Jobs celebrated Moreno’s win, describing Brown as a “top opponent of cryptocurrency.” Their statement lauded Ohio voters for choosing a leader committed to fostering innovation and safeguarding America’s technological edge.

As results rolled in, Bitcoin reached an all-time high of over $75,000,  Donald Trump.