Crypto Industry Spends $12 Million to Fight Senator Brown in Ohio
Date: 2024-08-14 Author: Gabriel Deangelo Categories: IN WORLD
The cryptocurrency industry, through its leading political committee Fairshake, plans to actively participate in the upcoming US Senate elections, directing significant financial resources to campaigns in three key states: Ohio, Arizona, and Michigan. In Ohio, the fight for a Senate seat will unfold between Republican Bernie Moreno, a supporter of the crypto industry, and the current chairman of the Senate Banking Committee, Democrat Sherrod Brown, who is known for his reserved stance on cryptocurrencies and reluctance to advance relevant legislation.
The Fairshake committee and its partners have announced their intention to reserve television advertising time in these key states. In Ohio, $12 million has been allocated to support Bernie Moreno, a blockchain entrepreneur. In Arizona and Michigan, the committee also plans to spend $3 million each to support Reps. Ruben Gallego (D-Ariz.) and Elisa Slotkin (D-Mich.), respectively.
According to Fairshake spokesman Josh Vlasto, their mission is to support candidates who embrace innovation, are committed to protecting American jobs, and are willing to work with both parties to achieve their goals. Fairshake is focused on building a strong bipartisan coalition and recognizing the need for responsible regulation of the crypto and blockchain industries.
Fairshake previously announced support for 18 sitting members of the House of Representatives in the upcoming November elections, all of whom have already shown their commitment to supporting the crypto industry. Interestingly, most of the committee’s campaign ads, both in the primaries and the general election, do not directly mention the crypto positions of the candidates they endorse or oppose.
Fairshake, along with other political action committees like the Democratic-leaning Protect Progress and Republican-leaning Defend American Jobs, also plans to use digital advertising to target cryptocurrency users. Crypto industry PACs are among the largest contributors to the 2024 election, rivaling other major industries and party funding. Fairshake previously gave $10 million to the campaign against Rep. Katie Porter (D-Calif.), their largest investment in a single race to date.
