POLITICO · 2026-11-04 05:46 UTC

Blue wave delivers 'an awful night for crypto'

Crypto industry's $55 million spending effort to defeat Democrat Sherrod Brown in Ohio Senate race failed as Brown won and a Democratic wave swept crypto-friendly Republicans out of office. Industry lobbyists describe the results as 'an awful night for crypto,' warning of hostile congressional committees and a less receptive regulatory environment under Democratic control. Sen. Elizabeth Warren, a longtime crypto critic, is poised to become Senate Banking chair, while some in crypto express cautious optimism about potential Democratic allies and Trump-appointed regulators.

Loading the story on Tree News…