U.S. Senator Sherrod Brown lost his re-election bid in Ohio to Republican Bernie Moreno, with the crypto lobby investing heavily in Moreno’s campaign. Brown, who sat on the powerful Senate Banking Committee, had been a critic of digital assets and their regulatory trajectory. Fairshake, a pro-crypto super PAC, spent a significant amount of its budget in this campaign.
This defeat is a setback for progressive allies like Brown, and it indicates potential shifts within the Democratic party regarding cryptocurrency regulation.
