Political action committees backed by major cryptocurrency firms have significantly increased their financial commitments in Ohio's 2026 Senate race. According to Federal Election Commission filings released Thursday, Defend American Jobs, a Fairshake affiliate funded largely by Coinbase and Ripple Labs, has spent $46.6 million on media opposing Democrat Sherrod Brown and supporting Republican incumbent Jon Husted.
The expenditure represents a 55% increase over Fairshake's initial September announcement that it planned to spend $30 million opposing Brown's Senate campaign. The Digital Freedom Fund, a Super PAC created by Gemini co-founders Tyler and Cameron Winklevoss, has contributed an additional $5.9 million in media spending against Brown and in support of Husted.
Brown, a former U.S. senator who chaired the Senate Banking Committee, has been a prominent critic of cryptocurrency industry policies. In a Friday interview, he characterized the spending as retaliation for his regulatory stance, stating that the industry recognizes he would hold candidates accountable.
The cryptocurrency PACs are not limiting their activities to Ohio. Defend American Jobs reported spending more than $6.7 million to oppose Independent candidate Dan Osborn in Nebraska's Senate race against Republican Pete Ricketts. Early voting in Ohio began over a week ago, with the general election approaching within three weeks.
Fairshake's 2026 spending already exceeds its 2024 efforts in Ohio, when the PAC spent $41 million supporting Republican Bernie Moreno against Brown's reelection bid. The organization reported holding $193 million in cash as of January ahead of the 2026 elections.
Beyond Fairshake and the Digital Freedom Fund, other cryptocurrency-aligned groups have invested in the 2026 midterms. The Fellowship committee, backed by Cantor Fitzgerald and Anchorage Digital, reported spending more than $11 million between August 2025 and August 2026 primarily on media supporting House and Senate candidates.
