Crypto Industry Pledges $30 Million to Unseat Democratic Senate Candidate
The cryptocurrency industry has pledged $30 million to unseat Democratic Senate candidate Sherrod Brown in Ohio, targeting him for his vote against a bill that would have benefited the industry.
Brown's campaign manager Patrick Eisenhauer stated that Jon Husted is 'for sale' and that the billionaires and corporations pouring millions into this race know it. The industry has spent hundreds of millions on congressional campaigns since 2024, including $41 million on ads to oust Brown last cycle.
The Digital Asset Market Clarity Act was a bill that would have established friendly regulations for crypto and protected it from oversight. About a dozen Democrats provided input on the bill but voted against it because Republicans wouldn't go along with provisions to stop President Donald Trump from continuing to earn billions of dollars from crypto while in office.
Crypto industry advocate Sen. Cynthia Lummis said that the legislation is dead, stating 'I'm not optimistic that they can find it in their hearts to support American innovation.'