Brown Defeats Husted in Ohio Senate Race

Sherrod Brown defeated incumbent Jon Husted in Ohio’s Senate race, returning to the chamber after losing his seat in 2024 despite a major campaign by crypto-backed groups to keep him out. The Associated Press called the race Tuesday night, November 3, as Democrats regained control of the Senate, according to reports of the election outcome. The result is a setback for Fairshake and other groups that spent heavily to oppose Brown, a longtime critic of the cryptocurrency industry. CoinDesk reported that Fairshake and the Digital Freedom Fund spent a combined $63 million opposing him, without specifying the period covered. Federal Election Commission filings showed Fairshake affiliate Defend American Jobs had spent more than $46 million supporting Husted and opposing Brown by mid-October. A separate report put that group’s spending above $55 million between September 21 and October 26. Those figures cover different reporting periods and scopes. Brown previously chaired the Senate Banking Committee, where he advocated tighter oversight of cryptocurrencies, citing concerns including money laundering and sanctions evasion. He lost his Senate seat to Bernie Moreno in 2024. Husted,...