Crypto PACs Lose Key Races After Spending Millions in Midterms

In the 2026 U.S. midterms, crypto-focused super PACs spent more than $176 million across over 100 races, but their biggest campaign ended in defeat when Democrat Sherrod Brown beat Republican Jon Husted for Ohio’s Senate seat despite more than $64 million spent to stop Brown. Fairshake, the industry’s flagship super PAC, provided $56.5 million of that Ohio spending, while the Digital Freedom Fund, supported by Gemini co-founders the Winklevoss twins, gave $7.5 million. Brown, who chaired the Senate Banking Committee and had criticized crypto before saying it had an economic role, received about 49.7% to Husted’s 45.5% with 97.3% counted. Brown had served three terms before losing to Republican Bernie Moreno in 2024.