Crypto lobbyists are reportedly vying for the state of Ohio, while major super PACS are trying to gain influence over Congress ahead of the election.
A network of crypto super PACS has spent $38 million in Ohio to win Republican Bernie Moren a seat in the US Senate, Washington Post reports.
Moren competes with Sherrod Brown, who is labeled “strongly anti-crypto” by the Coinbase-backed advocacy group Stand With Crypto. Brown voted against reversing SAB 121, claiming Hamas is powered by cryptocurrency.
Speaking to crypto supporters in Austin, Moreno said:
“Today you don’t have people in the United States Senate who know how to use email and we’re asking them to regulate digital currencies…
You need people who have basic knowledge, otherwise they will be driven by special interest groups who say to them, “I want you to vote this way or that way.”
A spokeswoman for Moren said he has a “deep understanding” of crypto technology, unlike Sherrod Brown, who she said “doesn’t know the difference between blockchain and a chainsaw.”
Rolling Stone recently reported that crypto-political groups plan to spend $32 million between August 22 and the end of September to boost Moren’s campaign.
Money is pouring into the race from a group called Defend American Jobs, a group that Rolling Stone reports is “basically a subsidiary” of Fairshake, a crypto-focused political action committee (PAC) funded by Coinbase, Ripple and Andreessen Horowitz.
Brown has also made a slew of public comments critical of the digital assets sector. In late 2022, the senator said the crypto market was a “complicated, unregulated pot of money.”
“I have spent much of the last eight and a half years in this role as Chairman of the Committee on Banking, Housing and Urban Affairs, educating my colleagues and trying to educate the public about crypto and the dangers posed it entails for our safety. as a nation and the consumers who are misled by it.”
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