A political action committee backed largely by cryptocurrency industry interests has reported spending $11.4 million on advertising in an Ohio Senate race, targeting Democrat Sherrod Brown while supporting Republican Senator Jon Husted.
The spending was disclosed in a filing with the Federal Election Commission by Defend American Jobs PAC, which is affiliated with Fairshake, a political group supported by major cryptocurrency companies including Coinbase and Ripple Labs.
FEC filing details $11.4 million in advertising
The PAC’s latest filing showed that the $11.4 million was spent on media promoting Husted and opposing a potential return to the Senate by Brown.
The advertising forms part of a broader effort by Fairshake to influence the Ohio contest. The group had previously pledged to initially commit $30 million to the race, with the stated objective of preventing Brown from returning to the Senate.
Brown has been a prominent congressional voice on financial regulation and previously chaired the Senate Banking Committee, where cryptocurrency policy was among the issues under consideration.
Brown has sought to position himself on crypto
Brown has previously acknowledged the growing role of cryptocurrency in the US economy while saying regulation should protect consumers and expand economic opportunities.
In comments made after launching his Senate campaign, Brown said cryptocurrency was becoming increasingly common in Ohio and across the country.
He said his objective was to ensure that wider cryptocurrency adoption created opportunities while limiting risks to Ohio residents.
Neither Brown’s campaign nor Husted’s campaign immediately responded to requests for comment on the latest advertising expenditure.
Crypto groups previously spent heavily against Brown
The latest spending comes after an expensive Ohio Senate contest in 2024, when Brown was seeking another term against Republican Bernie Moreno.
Outside groups spent more than $300 million during that campaign, according to the figures cited in the report, with Fairshake and affiliated cryptocurrency-aligned committees accounting for about $41 million in spending aimed at opposing Brown and supporting Moreno.
Moreno ultimately won the contest, receiving 50.2% of the vote compared with Brown’s 46.4%.
Husted entered the Senate through an appointment
Husted became a senator after being appointed by Ohio Governor Mike DeWine to fill the vacancy created when JD Vance left the Senate following his election as US vice president in 2024.
The current contest therefore takes place against the backdrop of the previous Senate race, in which cryptocurrency-focused political spending became a significant feature.
Crypto interests are also active in Ohio’s governor race
The industry’s political involvement extends beyond the Senate contest.
Republican Vivek Ramaswamy, co-founder of digital asset management company Strive, is also seeking elected office in Ohio. After his 2024 presidential campaign, Ramaswamy announced his intention to run for governor and secured the Republican nomination in May 2026.
He is scheduled to face Democrat Amy Acton in November.
Ramaswamy receives backing from crypto-linked donors
Ramaswamy’s campaign has received financial support from individuals associated with World Liberty Financial, the cryptocurrency company linked to members of the Trump family.
Three of the company’s co-founders — Chase Herro, Zak Folkman and Zachary Witkoff — each contributed the maximum reported amount of $16,615 to Ramaswamy’s campaign.
His political action committee, V-PAC: Victors, Not Victims, has also received significant contributions, including $20 million from Susquehanna International Group co-founder Jeff Yass and $6 million from NYDIG founder Ross Stevens.
The Bitcoin Voter Project also contributed $5,000, according to the campaign finance information cited in the report.
Cryptocurrency becomes a bigger factor in US elections
The spending in Ohio highlights the growing role of cryptocurrency-related political organisations in US elections.
For the crypto industry, election spending provides a way to support candidates and political efforts connected to debates over digital-asset regulation and financial policy.
The Ohio contests are among the latest examples of the industry’s expanding involvement in electoral politics, following the substantial spending seen during the 2024 Senate race.
