Winklevoss Twins Pour $2.9 Million Into Ohio Senate Race in Anti-Brown Crypto Push
Summary
- Tyler and Cameron Winklevoss spent more than $2.9 million on advertising in a single day in Ohio's Senate race to try to block Brown.
- Fairshake, backed by Coinbase and Andreessen Horowitz, and Stand With Crypto, backed by Gemini and others, have launched election efforts opposing Brown and supporting Husted.
- The crypto industry is once again pouring tens of millions of dollars in political funding into the race in response to Brown's tough regulatory stance and the collapse of a Senate digital-asset bill.
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Crypto billionaires Tyler and Cameron Winklevoss spent more than $2.9 million on advertising in a single day in Ohio's U.S. Senate race, aiming to unseat Democrat Sherrod Brown.
Bloomberg reported on October 30 that the Digital Freedom Fund, a super PAC founded by the Winklevoss twins, spent $1.48 million on mailers criticizing Brown on September 25 and another $1.48 million on advertising supporting Republican Jon Husted. The materials were sent to voters on October 29.
The spending was the Digital Freedom Fund's first election outlay this year targeting a specific candidate. The group had more than $21 million in cash at the start of the 2026 midterm cycle.
The crypto industry's effort to block Brown is also expanding. Fairshake, the crypto super PAC backed by Coinbase and venture capital firm Andreessen Horowitz, has previously said it would spend $30 million on election activity opposing Brown. Stand With Crypto, backed by Coinbase and the Winklevoss twins' Gemini, has also endorsed Husted.
Brown previously served as chairman of the Senate Banking Committee and has pushed for tough regulation and government oversight of the crypto industry. The industry also spent about $40 million two years ago trying to defeat him. With Brown running again in Ohio's Senate race this year, political money from the sector is once again concentrating on the contest.
The Winklevoss twins launched the Digital Freedom Fund last year to support pro-crypto political activity. According to the Bloomberg Billionaires Index, each has a net worth of about $2.1 billion. In August, they also donated $10 million to MAGA Inc., a super PAC supporting President Donald Trump.
Combined, the two have donated $42.7 million during the 2026 midterm cycle. Bloomberg reported that the money has been used to support Trump, the Digital Freedom Fund and Republican candidates.
The crypto industry's latest move is part of a broader political response aimed at Democratic senators after the Senate failed to advance an industry-backed digital-asset bill. The legislation would have established a federal regulatory framework for digital assets, but the two sides failed to reach a deal after Democrats demanded tighter ethics rules to limit conflicts of interest tied to the Trump family's crypto businesses.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.