Sen. Scott Credits Crypto Industry for Ousting Sen. Brown in Ohio

Senator Tim Scott (R-SC), chair of the Senate Banking Committee, publicly credited the cryptocurrency industry and its Fairshake super PAC network for unseating Senator Sherrod Brown (D-OH) in the 2024 election, highlighting the sector's growing influence on U.S. politics. Fairshake reportedly spent over $40 million backing Republican Bernie Moreno, who defeated Brown and now serves on the Banking Committee. Brown, a longtime progressive senator and former committee chair, has launched a comeback campaign for the 2026 midterm elections to challenge Senator Jon Husted, with the crypto industry’s future involvement in this race still uncertain. Scott praised the crypto sector for successfully supporting candidates favorable to their interests and encouraged the industry to continue opposing legislators who hinder crypto legislation. Meanwhile, Fairshake announced plans to invest heavily in Senate races in Ohio, Arizona, and Michigan, aiming to support crypto-friendly candidates and advance bipartisan crypto regulation. Scott expressed optimism about gaining bipartisan support for forthcoming complex crypto market structure legislation in the Senate.