Defeated Senator Sherrod Brown is offering an olive branch to crypto in his 2026 electoral campaign. Although he didn’t make any firm commitments, this one-time opponent is moderating his stances.
Nonetheless, a few things stand between Brown and a Senate seat. Analysts expressed skepticism at his change of heart, and he still needs to fend off a primary challenger.
Sherrod Brown: Crypto’s New Friend?
It’s not for nothing that pro-crypto Super PACs like Fairshake have a fearsome reputation. In 2024, they spent over $40 million to unseat Ohio Senator Sherrod Brown, a long-term crypto opponent. This effort was successful, and Bernie Moreno took over his Senate seat for a six-year term.
However, every US state has two Senators. The other position had been filled by JD Vance, who vacated it to become Trump’s Vice President.
Next year, Ohio will hold another election for the position. Sherrod Brown is throwing his hat in the ring, and he doesn’t want any trouble from the crypto industry:
“Cryptocurrency is a part of America’s economy. 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,” Brown claimed in an interview. He would not make any firm policy commitments other than this statement.
Fairshake has raised over $140 million for the 2026 midterms, so it’s understandable that Sherrod Brown wants to reconcile with crypto.
Objectively, though, he has an uphill battle. For one thing, policy watchdogs rate him as “strongly against” the industry. It’ll take more than a few statements to scrub that reputation.
The Lingering Stench of Defeat
Moreover, his recent electoral failure may inhibit his chances. At last week’s Wyoming Blockchain Symposium, Senate Banking Chair Tim Scott thanked crypto for “getting rid of Sherrod Brown,” and the crowd reacted with applause.
Even industry skeptics have derided Brown’s change of heart as disingenuous. Neither of these signals indicates a high likelihood of success.
Furthermore, Brown won’t get a shot at the general election just because he’s been a Senator before. The Democratic Party establishment supports his bid, but he’s already facing primary challengers. Considering the popularity crisis among Democrats, Chuck Schumer’s support might not mean much.
All that is to say, Sherrod Brown’s policy turn probably won’t directly matter to crypto. Even if he wins the primary, Fairshake will probably oppose him in the general. Why this matters is that it’s a useful barometer for the industry’s political influence.
Despite a few recent scandals, the industry still seems to have political challengers somewhat cowed. A few outsiders have made minor anti-crypto statements in election campaigns, but insiders like Brown are seeking reconciliation.
If that trend holds, an anti-crypto political realignment might not ever materialize.
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