Crypto's midterm bets mostly win, but Sherrod Brown beats Husted in Ohio

Sherrod Brown won more votes than Republican Jon Husted in Ohio’s Senate race, with results arriving late Tuesday and returning Brown to the US Congress. Crypto-backed committees had spent $52.6 million trying to defeat Brown, including more than $46 million from Defend American Jobs, an affiliate of the main Fairshake super PAC, making Husted’s loss a rare defeat for an industry that otherwise saw strong returns on its spending. Brown, a longtime crypto critic who as Senate Banking Committee chair described crypto as a tool for money laundering and sanctions evasion, could now chair the Senate Agriculture Committee, which has jurisdiction over digital assets and prediction markets.