$30 Million Crypto Lobby Effort Targets Sherrod Brown Senate Bid
Crypto Lobby's $30 Million Effort to Keep Sherrod Brown Out of Senate
A political spending group backed by the crypto industry, Fairshake, has pledged to spend $30 million in a bid to prevent former U.S. Senator Sherrod Brown from returning to the Senate. This move is part of the midterm elections, with the November 3 date looming.
Brown's approach to regulating cryptocurrencies was at odds with the crypto industry during his tenure as chair of the Senate Banking Committee. Despite efforts to advance comprehensive crypto legislation backed by the industry, no results were achieved during that time.
The industry is now taking a strong stance against Brown, who has been critical of their operations. Fairshake's budget for this race is not an all-time record; they set aside approximately $40 million two years ago to defeat him as well.