Crypto PACs raise Ohio Senate ad spending to $46.6 million

Defend American Jobs, an affiliate of the crypto-backed Fairshake PAC, reported spending $46.6 million on advertising against former Sen. Sherrod Brown and in support of Republican Sen. Jon Husted in Ohio’s 2026 Senate race. The amount exceeds Fairshake’s initial plan by more than 50%. Fairshake is largely funded by Coinbase and Ripple Labs.

The group disclosed the spending in filings with the Federal Election Commission on Thursday. Fairshake announced in September that it planned to spend $30 million opposing Brown’s return to the Senate.

Early voting in Ohio has been underway for 10 days, with fewer than three weeks until Election Day. Brown, a Democrat, previously represented Ohio in the Senate and is seeking to return to the chamber. Husted is seeking election to a full Senate term.

Brown told the “Pod Save America” podcast that the crypto industry was targeting him because of his record of challenging powerful industries and policies supported by digital-asset companies.

“I’ve spent my career taking on Wall Street, taking on big pharma, taking on big oil and been successful in many cases,” Brown said in an interview that aired Friday. “Jon Husted is their boy. They know he’s their guy, they know I’m going to hold him accountable and I guess it’s a perfect storm, so they spend literally tens and tens of millions of dollars.”

The Digital Freedom Fund, a super PAC created by Gemini co-founders Tyler and Cameron Winklevoss, reported about $3 million in advertising this week opposing Brown and supporting Husted. Its total media purchases in the Ohio race have exceeded $5.9 million.

Fairshake’s spending in Ohio has surpassed its activity in the 2024 election, when it spent $41 million supporting Republican Bernie Moreno and opposing Brown. Brown chaired the Senate Banking Committee and criticized crypto-related laws and policies during his previous term.

Defend American Jobs also reported more than $6.7 million in spending against independent candidate Dan Osborn in Nebraska’s Senate race. Osborn is running against Republican Pete Ricketts, who voted for the Digital Asset Market Clarity Act and the Guiding and Establishing National Innovation for US Stablecoins Act while in office.

Fairshake has said it plans to support pro-crypto candidates in the 2026 elections. The PAC reported holding $193 million in cash in January.

The Fellowship committee, backed by Cantor Fitzgerald and Anchorage Digital, reported more than $11 million in spending between August 2025 and August 2026, largely on advertising supporting House and Senate candidates.