Cryptocurrency-Backed PAC Directs $11M Against Sherrod Brown in Ohio Senate Contest
The Fairshake-affiliated political action committee committed $30 million in initial media spending to counter the Democratic contender in Ohio's Senate battle, echoing the crypto sector's 2024 campaign expenditures.
An influential political action committee (PAC) that receives substantial backing from the digital currency sector has disclosed expenditures exceeding $11 million on advertisements backing Republican Jon Husted while working against Democrat Sherrod Brown in a competitive battle for a United States Senate seat representing Ohio.
According to a filing submitted Thursday to the Federal Election Commission (FEC), the Defend American Jobs PAC—which maintains ties to the Coinbase- and Ripple Labs-supported organization Fairshake—disclosed $11.4 million in media expenditures aimed at boosting Husted and preventing Brown's return to the Senate. These advertising purchases seem to represent a portion of Fairshake's commitment to deploy an initial $30 million in the Ohio contest in an effort to defeat Brown, who formerly held the position of chair of the Senate Banking Committee and established himself as among the most vocal critics in Congress of cryptocurrency-friendly legislation and regulatory approaches.
Cointelegraph contacted both the Husted and Brown campaigns seeking comment but had not received an immediate reply. During an August 2025 query conducted after he announced his Senate campaign, Brown provided the following statement to Cointelegraph:
Cryptocurrency is a part of America's economy, and becoming more commonplace in Ohio and throughout the country. Just like what guides all my work, my goal is to make sure that as more people use cryptocurrency, it expands opportunity and lifts up Ohioans and they are not put at risk.
During 2024, the Ohio Senate race that pitted Brown, serving as the incumbent at that time, against Republican Bernie Moreno generated over $300 million in expenditures from external organizations such as Fairshake. Federal Election Commission data revealed that the cryptocurrency-aligned PAC along with its affiliated entities expended approximately $41 million to work against Brown while supporting Moreno. The Republican candidate secured victory in the election, capturing 50.2% of the vote compared to Brown's 46.4%.
Husted received his appointment to the Senate position from Ohio Governor Mike DeWine following the vacancy created when then-Senator JD Vance departed after winning election as US vice president in 2024.
Who else is the crypto industry supporting in Ohio politics?
Vivek Ramaswamy, who co-founded the digital asset management firm Strive, competed as a Republican candidate during the 2024 US presidential election and frequently expressed positive views regarding crypto and blockchain technology. He ultimately did not take a position in the Trump administration; rather, soon following the president's 2025 inauguration, he revealed intentions to pursue the governorship of Ohio and secured the Republican nomination in May 2026. He is scheduled to compete against Democrat Amy Acton in November.
In his capacity as a gubernatorial candidate, the Republican has received financial backing from three individuals who co-founded the Trump family's cryptocurrency enterprise, World Liberty Financial: Chase Herro, Zak Folkman and Zachary Witkoff, each of whom contributed the maximum permitted amount of $16,615 to Ramaswamy's campaign. His political action committee, "V-PAC: Victors, Not Victims," has also received contributions that include a total of $20 million from Susquehanna International Group co-founder Jeff Yass, $6 million from NYDIG founder Ross Stevens and $5,000 from the Bitcoin Voter Project.