Republican Crypto Advocate Bernie Moreno Defeats Longtime Ohio Senator Sherrod Brown

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Jai Pratap

Author

Jai Pratap

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Jai serves as the Asia Desk Editor for Cryptonews.com, where he leads a diverse team of international reporters. Jai has over five years of experience covering the web3 industry.

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Last updated:

November 6, 2024 00:37 EST

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Pro-crypto Republican Bernie Moreno has clinched Ohio’s U.S. Senate seat, defeating incumbent Democratic Sen. Sherrod Brown, who has held the position since 2007.

The Associated Press projected Moreno’s victory with a 50.6% to 46% margin, signaling a potential shift in the Senate’s approach to digital assets.

Moreno, a businessman and co-founder of the blockchain-based platform ChampTitles, which digitizes car titles, gained traction in the race by promoting his crypto-friendly policies.

Backed by a substantial $12 million donation from the Fairshake Super PAC, Moreno ran a campaign heavily focused on fostering innovation in blockchain and cryptocurrency. In his campaign leading up to the victory, Moreno vowed to “lead the fight to defend crypto in the U.S. Senate,” taking aim at Democratic lawmakers whom he describes as “forever politicians” with limited understanding of the emerging technology.

Bernie Moreno Unseats Anti Crypto Senator Brown

Brown, who chaired the Senate Banking Committee, has long been a vocal skeptic of cryptocurrencies, citing concerns over their use in illicit finance. He has pushed for strict regulations on digital assets, arguing that they can be exploited to evade sanctions and finance terrorism.

With Brown’s defeat, the chair of the powerful Senate Banking Committee now hangs in the balance, creating an opening that could have significant implications for the U.S. crypto landscape.

Defend American Jobs PAC, which invested $40 million from the crypto industry in support of Bernie Moreno, issued the following statement:

“Elizabeth Warren ally Sherrod Brown was a top opponent of cryptocurrency and thanks to our efforts, he will be leaving the Senate. 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.”

Ripple CEO Brad Garlinghouse also posted on X to celebrate Bernie Moreno and other pro crypto candidates who are leading in this election.