Sherrod Brown challenges crypto PACs to rematch in Senate bid
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Then-Sen. Sherrod Brown campaigning in 2024. Photo: Stephen Maturen/Getty Images
Political operatives working for the cryptocurrency industry will be on high alert now that Democrats appear to be all in on Sherrod Brown as the national party's candidate for Senate in Ohio.
Why it matters: With Brown as their pick, Democrats — already facing steep odds of retaking the Senate in 2026 — are directly squaring off against Fairshake, the crypto PAC that helped unseat the industry critic just a year ago.
- At the SALT Wyoming Blockchain Summit Tuesday, Sen. Tim Scott (R.—SC) told the room, "Thank you to all y'all for getting rid of Sherrod Brown."
- Fairshake, the network of PACs that opposed Brown in 2024, has $140 million on hand already to support pro-crypto candidates and — crucially, for Brown — oppose those that are seen as impediments.
Between the lines: The organization Stand With Crypto has ranked Brown as "strongly against crypto" based on his statements and actions in Congress.
- And his former position as chair of the Senate Banking Committee, from which he stonewalled industry-backed legislation, made him a target for Fairshake in the last election.
What he's saying: "Cryptocurrency is a part of America's economy," Brown said in a statement Tuesday sent by the campaign to Axios, in response to a request for an interview.
- "My goal is to make sure that as more people use cryptocurrency, it expands opportunity and lifts up Ohioans and they are not put at risk."
- The campaign did not respond to multiple requests to answer follow up questions about whether his policy positions have shifted since his loss.
In addition, neither the Ohio Democratic Party nor the Democratic Senate Campaign Committee replied to a request for comment from Axios.
What they're saying: Brian Wright, a longtime Ohio-based political strategist serving as president of WrightPath Solutions, tells Axios that he can see why the party wants Brown.
- Over his 32 years in Congress, the last 18 spent in the Senate, Brown had been able to flip otherwise Republican counties with a pro-worker message, Wright explained, though it didn't work out as well in 2024.
- Still, even with millions spent against him, Brown only lost 46% to 50% a year ago.
- "Anything can really happen here, but is it a bad idea for him to run again? I don't think he was defeated soundly enough to say that," Wright says.
Zoom out: A Democrat's odds of winning the Ohio Senate seat haven't risen above 33% on the Kalshi prediction market since the contract started in July, now with $2.7 million in volume.
- (Brown widely, considered the party favorite within the state, is facing a self-funded primary challenge.)
State of play: Party leader Sen. Chuck Schumer (D.—NY) wants Brown.
- Schumer has been perplexing on crypto issues, both acting as if pro-crypto legislation could pass in 2024 but also voting against the recently enacted stablecoin legislation, GENIUS.
- The Cook Political report still favors Jon Husted in the Ohio race, the Republican incumbent appointed to fill J.D. Vance's vacated seat, and the larger map still favors Republicans going into 2026.
The bottom line: "I think we have a huge battle that's unfolding next year, and then we'll find out how Red or Blue Ohio is, or isn't," Wright says.
