In Ohio’s Senate election this week, blockchain entrepreneur Bernie Moreno defeated three-term Democratic incumbent Senator Sherrod Brown, a prominent crypto skeptic, in a contest marked by record-breaking financial backing from cryptocurrency advocates.
Tyler Winklevoss, co-founder of crypto exchange Gemini, shared on social media platform X Tuesday:
The crypto army is striking! Sherrod Brown — crypto public enemy, Elizabeth Warren co-conspirator, and Gary Gensler crony — was just ousted by Bernie Moreno for Ohio Senate.
Following the election, Brown said: “Tonight I’m sad, but I’m never giving up.” As Senate Banking Committee chair, Brown has frequently opposed the crypto industry, advocating for stricter digital asset regulations. He has warned of risks to financial stability, consumer protection, and national security, arguing cryptocurrencies may facilitate illegal activities.
Brown has consistently aligned with legislators like Senator Elizabeth Warren to increase crypto oversight and shares U.S. Securities and Exchange Commission (SEC Chair Gary Gensler’s regulation-by-enforcement approach to the cryptocurrency industry.
Several notable crypto advocates welcomed Moreno’s win, including Ripple co-founder Chris Larsen, who criticized President Joe Biden’s decision to support Senator Warren’s regulatory role in financial oversight. The Fairshake-affiliated PAC Defend American Jobs commented on the election results, stating:
Senator-elect Moreno’s come-from-behind win shows that Ohio voters want a leader who prioritizes innovation, protects American economic interests, and will ensure our nation’s continued technological leadership.
Brown’s vocal criticism of cryptocurrency has long positioned him as a top target within the industry, which invested heavily in his opponent’s campaign. His firm stance on regulation made him one of crypto’s most prominent adversaries in Washington, further energizing pro-crypto forces to back Moreno’s Senate bid.