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Fifty-two million dollars. That’s what crypto-aligned political action committees have poured into the Ohio Senate race to stop Sherrod Brown from winning another term. The spending is led by affiliates of Fairshake PAC, which draws heavy funding from Coinbase and Ripple Labs, and it’s grown fast — up more than 50% from earlier commitments.
Why It Matters
The unprecedented financial backing from crypto-aligned PACs in the Ohio Senate race underscores the increasing political influence of the cryptocurrency industry as it seeks to protect its interests against regulatory scrutiny. With major players like Coinbase and Ripple Labs at the forefront, this spending surge reflects a strategic effort to shape legislative outcomes that could significantly impact the future of crypto regulation at both state and national levels. As the race intensifies, it highlights the broader trend of the crypto sector becoming a formidable political force, which could set precedents for future elections and regulatory frameworks.
The biggest single spender is Defend American Jobs, a Fairshake affiliate. Per Federal Election Commission filings, it dropped $46.6 million on media efforts against Brown while backing Republican Jon Husted. That’s a sharp jump from the $30 million Fairshake had originally committed to this race. Early voting in Ohio has been running for 10 days now, with less than three weeks left before election day. The money is moving at a pace that’s hard to ignore.
Not alone in this.
Winklevoss Twins Add $5.9 Million for Husted
The Digital Freedom Fund — a Super PAC set up by Gemini co-founders Tyler and Cameron Winklevoss — threw in an additional $3 million this week for ads opposing Brown, pushing their total spend to over $5.9 million in support of Husted. That’s a separate operation from Fairshake, but the target is basically the same: keep Brown out of the Senate.
Brown’s history matters here. He chaired the Senate Banking Committee and spent years pushing back hard on crypto-friendly legislation. For the industry, his potential return to that kind of power is a real problem. So the money keeps coming.
And it’s not just Ohio. Fairshake has also sent more than $6.7 million against Independent candidate Dan Osborn in Nebraska, where Osborn faces Republican Pete Ricketts. Ricketts backs both the Digital Asset Market Clarity Act and the Guiding and Establishing National Innovation for US Stablecoins Act — two pieces of legislation the crypto sector has been pushing hard for.
Fairshake’s $193 Million War Chest
Fairshake reported sitting on $193 million in reserve as of January. That kind of cash gives the group serious flexibility to move quickly when a race tightens or a candidate looks vulnerable. The Ohio race clearly qualifies on both counts.
The PAC has been transparent about what it wants: a Congress stacked with lawmakers who are friendly to crypto. It’s a pretty direct strategy, and the money backs it up.
Beyond Fairshake and the Winklevoss fund, there’s a third player worth watching. The Fellowship committee — backed by Cantor Fitzgerald and Anchorage Digital — has put more than $11 million into media campaigns for various House and Senate candidates, spending that ran from August 2025 through August 2026. That’s a significant chunk of money spread across multiple races, and it fits the same broader pattern.
The crypto industry isn’t betting on one race. It’s trying to move the whole board.
This push in 2026 isn’t coming out of nowhere. In 2024, Fairshake spent $41 million backing Republican Bernie Moreno and opposing Brown, who was running for reelection then too. Brown lost that race. Now, in a new cycle, with Husted as the Republican candidate, the industry is back at it — and spending more than before.
What’s Driving the Escalation
It’s worth being clear about the scale here. The combined efforts of Defend American Jobs, the Digital Freedom Fund, and the Fellowship committee put the total crypto-aligned spending in this cycle at a level that’s pretty much without precedent in a single Senate race. And that’s before counting any smaller donors or independent expenditures that haven’t surfaced yet in FEC filings.
Fairshake and Husted’s campaign didn’t respond to requests for comment. No details from either side on how they see the final stretch.
The Nebraska race adds another dimension. Osborn running as an Independent makes that contest harder to read. But Fairshake’s $6.7 million against him seems to say the industry views Ricketts as a reliable vote for its priorities and doesn’t want to take chances.
Stablecoin legislation and market structure rules have been grinding through Congress for a while now. The industry clearly thinks who wins these midterms will determine whether any of that actually becomes law. So the money keeps flowing — Ohio, Nebraska, House races, Senate races — wherever the math looks right.
The Fellowship committee’s $11 million across House and Senate candidates is part of that same calculation. Cantor Fitzgerald and Anchorage Digital aren’t small players. Their involvement in a political committee spending at that level says something about how seriously the institutional side of crypto is taking the 2026 cycle.
Defend American Jobs alone spent $46.6 million against one candidate in one state.
Frequently Asked Questions
How much have crypto PACs spent against Sherrod Brown in the Ohio Senate race?
Crypto-aligned PACs have spent over $52 million opposing Sherrod Brown, with Defend American Jobs accounting for $46.6 million of that total per FEC filings.
Who funds Fairshake PAC and its affiliates?
Fairshake draws significant funding from Coinbase and Ripple Labs, and reported $193 million in reserve as of January.
What other Senate race is Fairshake targeting in 2026?
Fairshake has directed more than $6.7 million against Independent candidate Dan Osborn in Nebraska, where he faces Republican Pete Ricketts.
