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Crypto Industry Committing $12M to Dethrone Sen. Brown in Ohio, PAC Says

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Jesse Hamilton is CoinDesk's deputy managing editor for global policy and regulation. He doesn't hold any crypto.

The crypto industry's leading political action committee, Fairshake, announced three U.S. Senate races it intends to spend major amounts to influence in Ohio, Arizona and Michigan.

Crypto interests are planning to go after Sen. Sherrod Brown in their biggest-ever single campaign, setting aside $12 million to support the Republican candidate seeking to snatch the Senate seat from the current chairman of the Senate Banking Committee, who has been highly critical of the digital assets sector and reluctant to embrace crypto legislation.

"Our mission is clear – support candidates who embrace innovation, want to protect American jobs and are committed to working across the aisle to get things done and oppose those who do not," Fairshake spokesman Josh Vlasto said in a statement. The group is aiming for a"sustainable bipartisan coalition and a consensus that there is an urgent need to pass responsible crypto and blockchain-focused regulation.

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