A political action committee (PAC) associated with the cryptocurrency industry and primarily funded by it reported spending more than $11 million on advertising in support of Republican John Husted and against Democrat Sherrod Brown in the race for one of Ohio’s U.S. Senate seats.
In a statement filed Thursday with the Federal Election Commission (FEC), PAC Defend American Jobs, affiliated with the group Fairshake, backed by Coinbase and Ripple Labs, reported $11.4 million in advertising spend in support of Husted and against the possible return of Brown to the Senate. The ad buys appear to be part of Fairshake’s pledge to initially spend $30 million in the Ohio race, trying to prevent the election of Brown, who previously served as chair of the Senate Banking Committee and was one of Congress’s most outspoken critics of legislation and policies favorable to cryptocurrencies.