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Crypto’s midterm spending spree stumbles as Democrats rack up big wins

Crypto’s midterm spending spree stumbles as Democrats rack up big wins

WASHINGTON, Nov 4 (Reuters) – ⁠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…

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