Fairshake commits $30 million to oppose Sherrod Brown's Senate bid

Fairshake, the crypto industry's leading campaign-funding operation, has committed $30 million to defeating Sherrod Brown's Ohio campaign to return to the U.S. Senate. The spending echoes the $40 million the same political action committee devoted to defeating Brown two years ago. That earlier effort helped remove a U.S. Senate roadblock for the crypto sector. The current Republican Senate majority has been productive for crypto advocates despite the recent failure of a vote on a key bill. A Brown victory this year could help shift the balance toward Democrats' narrow chance of regaining the majority. Brown's critical view of the crypto sector had also been a major problem for businesses backing Fairshake and its affiliates, mainly Coinbase, Ripple Labs and a16z. Fairshake still has close to $100 million that it can devote during the final weeks before the general elections.