Crypto spending fails in Ohio as Brown wins and Democrats sweep Congress

Democrats swept Congress and Senator Sherrod Brown survived an Ohio race in which the crypto industry spent tens of millions of dollars trying to defeat him. That leaves the industry facing a Senate Banking Committee that Elizabeth Warren appears poised to lead, a lawmaker known for harsh criticism of crypto. For traders, the result signals a tougher legislative and regulatory environment and raises doubts about how effectively industry campaign spending can shape crypto policy in Washington.