CNA · 2026-11-04 16:51 UTC

Crypto's midterm spending spree stumbles as Democrats rack up big wins

Crypto industry's $200 million midterm spending campaign faced setbacks as Democrats won key races, including Ohio Senate where Sherrod Brown defeated crypto-backed opponents despite $60 million spent against him. Fairshake super PAC won 29 of 34 races it targeted, but losses raised questions about candidate selection; crypto industry now faces potential Democratic oversight and investigations into Trump ties. Bitcoin recovered to $80,000 after overnight losses; crypto executives acknowledge setbacks but maintain long-term outlook is favorable.

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