Two crypto-backed super PACs have now reported more than $52.6 million in spending in Ohio’s 2026 U.S. Senate race, far exceeding the $30 million that Fairshake announced in September and underscoring the industry’s effort to defeat former Senator Sherrod Brown.
According to Federal Election Commission filings, Fairshake’s Republican affiliate Defend American Jobs reported cumulative Ohio expenditures of $46,672,296.18 as of Oct. 15. The separate super PAC Digital Freedom Fund, established by Gemini co-founders Tyler and Cameron Winklevoss, reported $5,940,397.25 in Ohio spending as of Oct. 11. Together the two committees’ reported expenditures total $52,612,693.43. Defend American Jobs’ Ohio spending alone exceeded Fairshake’s original $30 million pledge by $16,672,296.18, or 55.6%.
The filings show detailed buying against Brown and in support of Republican incumbent Jon Husted. Defend American Jobs listed a $5.2 million media purchase opposing Brown and a $2.8 million purchase supporting Husted through Main Street Media Group, plus additional buys of $1,947,397.86 against Brown and $1,048,598.85 for Husted. Digital Freedom Fund disclosed roughly $2.97 million in direct-mail printing and postage through Minute Mail Consulting Group, including $1,980,132.39 opposing Brown and $990,066.19 supporting Husted.
Fairshake’s financial backers include Coinbase, Ripple Labs, and Andreessen Horowitz. The network is also spending outside Ohio: Defend American Jobs reported $6,723,909.96 opposing Nebraska independent Senate candidate Dan Osborn. Fairshake separately announced a $6 million House plan on Oct. 5, with $1 million each to six incumbents as part of a 32-member slate, all of whom voted for the Digital Asset Market Clarity Act, or CLARITY.
The political context is significant. Brown lost his Senate seat in 2024 to Bernie Moreno and is seeking a comeback; Husted was appointed in January 2025 to replace JD Vance. Brown said on Pod Save America that the industry favors Husted and compared the ads to past disputes with Wall Street, pharmaceutical companies, and oil businesses. The stakes extend beyond Ohio. Reuters reported that a Democratic Congress could bring subpoenas, hearings, and investigations into the president’s crypto ties, even if regulatory easing continues. Wintermute policy chief Ron Hammond described Representative Sean Casten as “no friend of the industry.” A Northern Illinois University study of 34 elections in 19 democracies found that pre-election regulatory uncertainty in major countries increased the co-movement of crypto news impacts by 0.85%, with the strongest effects around U.S., U.K., German, French, and Japanese elections.
Analysts and industry observers say the race could shape U.S. crypto regulation, with broader implications for market confidence, investment decisions, and risk expectations. Research has also linked weak Ether sentiment to diminishing prospects for the CLARITY Act.
