Former Ohio Senator Sherrod Brown lost his seat in the U.S. Senate to Republican Bernie Moreno in 2024, with spending supported by the cryptocurrency industry exceeding $40 million. He has now launched his campaign for 2026.
Brown stated in a statement on Saturday that he will run for the seat of Republican Senator Jon Husted in the 2026 U.S. midterm elections—Moreno, who defeated Brown in 2024, will not face re-election until 2030.
The former senator was one of the most outspoken voices on cryptocurrency in the last Congress, losing to Moreno with over 46% of the vote, while a digital asset-supported political action committee (PAC) spent more than $40 million on media buys.
"I never planned to run for office again," Brown wrote in a post on X on Saturday. "But I see what is happening in Washington, and I cannot stand by. This is a government that serves the rich and powerful at the expense of working people. I will fight to change that."
Brown served as one of Ohio's two senators from 2007 to 2025, during which time he was the chairman of the Senate Banking Committee for four years and was one of the most vocal advocates for comprehensive cryptocurrency legislation following the "FTX collapse" in 2022.
Although many experts speculate that Republicans will continue to control the Senate majority after 2026, Brown's potential return to the Senate indicates dissatisfaction among Ohio voters with their current representative.
Defend American Jobs is a PAC affiliated with Fairshake, which is primarily supported by donations from cryptocurrency companies Coinbase and Ripple Labs. This organization spent over $40 million on media buys to support Moreno. Overall, the Ohio Senate campaign was one of the most expensive in the state's history, with reports indicating that parties spent a total of over $480 million.
Fairshake and its affiliate Defend American Jobs primarily support Republican candidates, while Protect Progress supports Democratic candidates, reportedly spending $131 million in the 2024 congressional elections to support and oppose candidates. As a result, about 270 legislators deemed "pro-cryptocurrency" by the Coinbase-affiliated advocacy group Stand With Crypto won elections or re-elections.
In July, Fairshake reported holding approximately $141 million in assets to influence the 2026 midterm elections. The PAC and its two affiliates spent over $2 million in 2025 to support candidates in special congressional elections for three House seats in Virginia and Florida.
"Last year, voters sent a clear message that Sherrod Brown and Elizabeth Warren's agenda is out of touch with Ohio values," Fairshake spokesperson Josh Vlasto told Cointelegraph. "We will continue to support pro-cryptocurrency candidates and oppose anti-cryptocurrency candidates, both in Ohio and nationwide."
During Brown's absence, Congress advanced the GENIUS Act regulating payment stablecoins with the support of a Republican majority in the House and Senate, as well as President Donald Trump.
Trump signed the bill into law in July, and the House sent cryptocurrency market structure and central bank digital currency bills to the Senate for consideration, which will be in recess until September.
In one of his last messages to the Senate Banking Committee before leaving office in December, Brown warned that Trump was "opening our government to the highest-bidding corporate bidders" and encouraged the agency to prepare for challenges related to artificial intelligence and cryptocurrency.
His initial campaign message released on Monday focused on "speaking for workers," concerns about healthcare costs, and the current direction of the government under the Trump administration.
"Cryptocurrency is part of the American economy and is becoming increasingly common in Ohio and nationwide," Brown told Cointelegraph. "As with the principles that guide all my work, my goal is to ensure that as more people use cryptocurrency, it expands opportunities and uplifts the people of Ohio, rather than putting them at risk."
A poll released in February by the Bowling Green State University Network for Democracy and Public Policy showed Husted leading Brown by six percentage points in a hypothetical matchup, at a time when Brown had not yet announced his Senate campaign.
Husted was appointed by Ohio Governor Mike DeWine to fill the seat left vacant by then-Senator JD Vance after he was elected Vice President, and he will be allowed to serve until the special election in November 2026. Of the 100 Senate seats, 35 will be contested in the midterm elections.
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Original article: “Sherrod Brown, Targeted by Crypto PAC in 2024, to Run for U.S. Senate Seat Again”
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