Solana-Backed Super PAC to Spend $8 Million in Ohio Race to Support Pro-Crypto Candidate

JOON HYOUNG LEE

Summary

A super PAC backed by the Solana Policy Institute said it will spend $8 million in Ohio to support a candidate with a pro-crypto stance.
Sentinel Action Fund said it will spend $8 million with Right Vote to support Republican candidate Jon Husted in the US midterm elections.
Sentinel Action Fund said it has received $750,000 and $250,000, respectively, from the Solana Policy Institute and Multicoin Capital.

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A US super PAC backed by the Solana Policy Institute, a cryptocurrency think tank, plans to spend $8 million in an Ohio election to support a pro-crypto candidate.

The Block reported on Nov. 15 that Sentinel Action Fund and its affiliate Right Vote will spend the money to back Republican candidate Jon Husted in Ohio in the November US midterm elections.

Husted is considered friendly to the cryptocurrency industry. He has called for an innovation-friendly regulatory framework for the sector and has supported crypto-related legislation, including the US stablecoin bill known as the GENIUS Act.

Husted's opponent is Democratic Senator Sherrod Brown. Jessica Anderson, president of Sentinel Action Fund, said Brown has blocked policies aimed at promoting crypto innovation.

Sentinel Action Fund is funded by the Solana Policy Institute and US crypto investment firm Multicoin Capital. According to the US Federal Election Commission, the Solana Policy Institute and Multicoin Capital contributed $750,000 and $250,000, respectively, to the group.

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