Crypto PACs eye 2028 ‘new map’ as Democrats take Congress
Crypto super PACs spent more than $176 million on the midterms, but the Democratic sweep raises the prospect of tougher industry scrutiny.
Crypto super PACs spent more than $176 million on the midterms, but the Democratic sweep raises the prospect of tougher industry scrutiny.
Two years after crypto money helped drive Sherrod Brown out of the Senate, roughly $64 million couldn’t keep him from returning.
Brown’s victory over Republican Jon Husted in Ohio delivered the industry its biggest electoral loss of the 2026 midterms as Democrats won control of both chambers of Congress. The sweep also puts Sen. Elizabeth Warren, one of crypto’s fiercest critics, in line to chair the Senate Banking Committee.
This year, crypto spending was part of a much larger flood of outside money. Independent expenditures in the race topped $350 million, while Brown turned the crypto spending into a campaign theme, writing “I’ll be damned if crypto billionaires decide this race,” in a campaign message.