BlockBeats news, on September 27, according to Coindesk, the cryptocurrency industry political action committee (PAC) invested heavily in the Ohio Senate race, supporting Republican candidate Bernie Moreno against incumbent Senator Sherrod Brown. (Sherrod Brown). As of September 27, 2024, PACs backed by companies such as Coinbase and Ripple Labs had invested $40 million in support of Moreno. This huge spending has allowed Moreno to quickly catch up with Brown in the polls, and some polls even show Moreno is ahead.

Brown has been skeptical of cryptocurrencies as chairman of the Senate Banking Committee, where multiple crypto bills have stalled. If Moreno wins, the Republicans could gain a majority in the Senate, which would have a significant impact on the legislative process for the cryptocurrency industry. However, some in the industry have expressed concerns about Fairshake PAC’s attempt to overturn Brown’s decision, arguing it could harm the industry’s legislative push.

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