Republican

Shift

<p>With <a href="https://coinpedia.org/news/how-the-us-election-could-reshape-crypto-regulations-trump-vs-harris-showdown/" target="_blank" rel="noreferrer noopener">US Election Day</a> just around the corner, big money from the crypto world is stirring up Ohio’s Senate race between current Democratic Senator Sherrod Brown and Republican challenger Bernie Moreno. Both candidates are neck and neck, and crypto supporters are hoping their investment will tip the scales.</p>   
<h2 class="wp-block-heading" id="h-pro-crypto-super-pac-dominates-ad-spend">Pro-Crypto Super PAC Dominates Ad Spend</h2>   
<p>The pro-crypto group Defend American Jobs (DAJ) funded by major crypto companies like Coinbase and Ripple, has spent a massive $40.8 million television ad campaign aimed at boosting Moreno's image among Republicans and doubtful voters.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/EleanorTerrett/status/1844118803699077184 
 </div>
</figure>   
<p>However, this spending has made DAJ the largest financial force in the Ohio Senate race to date, contributing to a total of over $170 million in advertising for both candidates.&nbsp;</p>   
<p>DAJ's financial push is part of a larger effort from pro-crypto PACs, which have collectively spent over $130 million on congressional races this election cycle.</p>   
<p>According to a DAJ spokesperson, the goal is to position a pro-crypto candidate for victory in what has traditionally been a challenging landscape for the industry. Before DAJ’s involvement, Brown was leading the race, but the super PAC's extensive campaign has reportedly shifted momentum.</p>   
<h2 class="wp-block-heading" id="h-brown-vs-moreno-opposing-views-on-crypto">Brown vs. Moreno: Opposing Views on Crypto</h2>   
<p>Moreno, a blockchain entrepreneur, <a href="https://coinpedia.org/news/is-bitcoin-poised-for-a-price-surge-halving-and-us-election-could-hold-the-key/" target="_blank" rel="noreferrer noopener">supports the crypto industry</a> and could bring pro-crypto views to the Senate.&nbsp;</p>   
<p>In contrast, Brown has been a strong critic of digital assets, advocating for strict regulations. He currently chairs the Senate Banking Committee, where he influences laws related to digital currencies and the work of regulators like the SEC.&nbsp;</p>   
<p>Brown’s alliance with anti-crypto Senator <a href="https://coinpedia.org/news/senator-elizabeth-warren-demands-immediate-interest-rate-cuts-from-fed-chair/" target="_blank" rel="noreferrer noopener">Elizabeth Warren has also made</a> him a big opponent of the crypto industry.</p>   [post_titles_links postid="363141']   
<h2 class="wp-block-heading" id="h-beyond-crypto-a-republican-shift">Beyond Crypto: A Republican Shift</h2>   
<p>Beyond crypto, this race is a major chance for Republicans to gain a seat in a state that has been shifting more Republican in recent years. For crypto supporters, helping Moreno win means getting a strong voice in Congress for digital assets, potentially easing regulations on the industry.</p>   
<p>With millions of dollars in play, Ohio’s Senate race could have a huge impact on both the political landscape and the future of crypto policy in Washington.</p>

Crypto Spending Powers Ohio’s Senate Race in Tight Battle Between Brown and Moreno

Table of Contents

CoinPedia News

Other articles published on Oct 10, 2024

Wallet Trackers Report This Smart Money Whale Is Selling Ethereum To Buy This Shiba Inu Killer

Dubai VARA Charges Against 7 Unlicensed Crypto Entities

Analysts Say Cardano Price Unlikely To Reclaim $1 Anytime Soon – Kaspa and Rollblock Offer Better...

Ethereum Dips: Is China Dumping Recovered Plustoken ETH?

Major Banks Prepare for Earnings Decline

Ripple debuts crypto custody solutions to support banks in managing crypto: report

Join our free newsletter for daily crypto updates!