Sun Sep 15 13:00:00 UTC 2024: ## Crypto Giants Pour Millions into Ohio Senate Race to Oust Crypto Skeptic
**COLUMBUS, OHIO** – The crypto industry, reeling from a tumultuous year marked by fraud and regulatory scrutiny, is pouring millions of dollars into the Ohio Senate race in a bid to defeat incumbent Democrat Sherrod Brown, a vocal critic of the industry.
According to Rolling Stone, a pro-crypto Super PAC, Defend American Jobs, is set to spend $32 million by the end of September to support Republican candidate Bernie Moreno. The money is largely flowing from three crypto giants: Coinbase, Andreessen Horowitz, and Ripple.
This unprecedented spending spree comes amidst a backdrop of growing political tension between crypto proponents and regulators.
Brown, who chairs the Senate Banking Committee, has been a vocal critic of the industry, raising concerns about fraud, scams, and lack of investor protections. He even called for a crackdown on cryptocurrency’s potential use in financing terrorism.
In response, crypto interests have branded Brown “anti-crypto” and are actively campaigning against him. The industry sees Brown as an obstacle to their ambitions for mainstream adoption and favorable legislation.
However, not all crypto players are on board with the aggressive campaign. Billionaire investor Ron Conway, a Democrat, expressed his disapproval, calling it “shortsighted and stupid” to target Brown who is working towards crypto-friendly legislation.
The ads, which have been running since August 22nd, largely focus on promoting Moreno, but some have taken a darker turn, featuring fear-mongering messages about immigrants and China.
Should Brown be defeated, Republican Tim Scott, who holds an “A” rating from pro-crypto group Stand With Crypto, is poised to take over as chair of the Senate Banking Committee.
The race is shaping up to be one of the most expensive and contentious in the country, highlighting the growing influence of the crypto industry in US politics.
First Piper 