Republican

Gemini

Tyler

Bernie Moreno, the Republican candidate to challenge Senator Sherrod Brown has recently announced that he has liquidated all his Bitcoin assets. This decision was taken in order to address any possible conflicts of interest arising from the support received from the cryptocurrency sector. 
Moreno’s campaign has garnered over $40 million through media buys from the political action committee (PAC) – Defend American Jobs – an organization associated with Fairshake and primarily focuses on supporting Republican candidates. 
<h3 class="wp-block-heading" id="span-style-font-weight-400-moreno-secures-support-in-tight-senate-race-against-brown-span">Moreno secures support in tight Senate race against Brown</h3> 
As per a recent <a href="https://www.cleveland.com/news/2024/10/us-senate-hopeful-bernie-moreno-praises-crypto-in-campaign-stop-as-industry-floods-ohio-with-ads.html" rel="nofollow noopener" target="_blank">Cleveland report</a>, Moreno expressed pride in receiving backing from the crypto sector as he aims to unseat Senator Sherrod Brown.&nbsp; 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 I’m proud that the industry supports me. And by the way, the reason they supported me is because they agree with me, not because I agree with them. <cite>– Bernie Moreno</cite>
</blockquote> 
Senator Brown, who has been in office since 2007 and chairs the Senate Banking Committee, is known for his skepticism regarding digital assets. <a href="https://projects.fivethirtyeight.com/polls/senate/2024/ohio/" rel="nofollow noopener" target="_blank">Recent polls</a> indicate that the race between Moreno and Brown is tight, with both candidates within the margin of error ahead of the crucial 2024 election, which could decide whether Republicans gain control of the Senate. 
Should Brown secure re-election but Republicans achieve a Senate majority, he may have to step down as chair of the Banking Committee in January 2025. 
<h3 class="wp-block-heading" id="span-style-font-weight-400-crypto-leaders-back-moreno-s-campaign-but-not-all-supporters-are-onboard-span">Crypto leaders back Moreno’s campaign, but not all supporters are onboard</h3> 
In addition to PAC contributions, numerous high-profile crypto entrepreneurs, including Gemini co-founders Cameron and Tyler Winklevoss, Coinbase co-founder Fred Ehrsam, and Coinbase CEO Brian Armstrong, have directly contributed to Moreno’s campaign. However, Ron Conway, a former major donor to Fairshake, reportedly withdrew his support upon learning of its plans to back Moreno. 
Moreno, who has never held elected office, has advocated for Ohio to accept tax payments in Bitcoin since 2018, although the State Board of Deposits did not approve this proposal. If elected, he has stated his intention to promote “regulatory certainty” for the crypto industry. Despite his criticisms of Senator Brown and Senator Elizabeth Warren regarding their crypto policies in 2024, his campaign website lists 16 key priorities, none related to digital assets or blockchain technology. 
Moreno’s run and record are not flawless. Last year, he settled over a dozen wage-theft claims and paid over <a href="https://www.wkyc.com/article/news/politics/elections/another-wage-theft-lawsuit-ohio-republican-us-senate-nominee-bernie-moreno/95-d04fcdc9-6632-4550-959a-2adfbc8db571" rel="nofollow noopener" target="_blank">$400,000</a> to two former employees at his car business. 
Additionally, he has <a href="https://apnews.com/article/election-2024-senate-ohio-moreno-brown-abortion-2771a833403d1a29db295d50cc307a7e" rel="nofollow noopener" target="_blank">faced criticism</a> for claiming that women over 50 should not be concerned about reproductive rights during a town hall meeting. 
The race between Senator Brown and Moreno is expected to be one of the most expensive contests in the 2024 election cycle, second only to the presidential race. Reports suggest candidates and PACs have spent over $400 million on campaign efforts and media advertisements in Ohio.

Republican candidate goes Bitcoin-free to win crypto support against Sherrod Brown

Table of Contents

Cryptopolitan_News

Other articles published on Oct 29, 2024

Gamers can Earn up to $5 US Dollars per Shot in New Fast-Action “Hotshot” Shoot-to-Earn PVP Game

Hong Kong Expands Tax Incentives to Include Virtual Assets, Targeting Institutional Investors

Invest in Change: 5 Cryptos Leading the Financial and Blockchain Evolution

Bitcoin Surges Past $71,000: What Could be the Possible Reasons?

EigenLayer completes investigation on $5.7M hack

Billionaire Justin Sun Announces “Big News” as Cryptocurrency Market Surges

Join our free newsletter for daily crypto updates!