Originally published by The Block on November 4, 2026, at 12:34:46 UTC+8. The source notes an update at 4:55 a.m. UTC reflecting that Democrats had gained control of the Senate.
Democrat Sherrod Brown defeated incumbent Republican Jon Husted in Ohio’s U.S. Senate race on Tuesday night, returning to the chamber despite $30 million in spending against him by crypto political action committee Fairshake, according to The Block.
The result marked a setback for Fairshake, which had also opposed Brown in 2024. In that election, the group spent $12 million backing crypto-friendly Republican Bernie Moreno, who defeated Brown. Fairshake and the broader crypto industry spent millions seeking to influence the 2024 elections.
Potential implications for congressional crypto policy
Brown previously chaired the Senate Banking Committee, where he helped set the cryptocurrency policy agenda and called for a crackdown on the use of crypto to finance terrorism and evade sanctions.
With Democrats regaining control of the Senate, Brown could become chair of the Senate Agriculture Committee, whose jurisdiction includes digital assets and prediction markets. That appointment was not confirmed in the report. Sources had previously told The Block that Brown would be unlikely to introduce crypto legislation if he became chair.
Husted, by contrast, was endorsed by crypto advocacy group Stand With Crypto and had voted for several crypto bills, including the broad legislation known as the Clarity Act. The group rated Husted an A and Brown an F.
Other Senate results
The Block also reported victories for several candidates with ties to crypto advocacy or legislative negotiations:
- Chris Pappas, a Democrat backed by Stand With Crypto, won in New Hampshire.
- Democratic Sens. Cory Booker and Mark Warner, both participants in crypto legislation negotiations, won their races.
- James Talarico, the Democratic Senate candidate in Texas, defeated Texas Attorney General Ken Paxton. Stand With Crypto had given Talarico an A rating for his earlier pro-crypto statements and his vote to establish a strategic bitcoin reserve in Texas.