WASHINGTON, Nov 4 : The crypto industry’s roughly $200 million spending spree this election stumbled Tuesday, as some of its most expensive and high-profile targets, including the Senate race in Ohio, did not go its way.

While the industry won most of the races it targeted, those losses raised questions among lobbyists about whether it had backed the right candidates. 

The greatest blow for the industry came in Ohio, where Democrat and crypto skeptic Sherrod Brown decisively won his race to return to the Senate, despite crypto political action committees spending more than $60 million to defeat him. 

The race was one of the most expensive in the Senate’s history. Strategists viewed it as a major test of crypto’s political clout after…