Crypto Industry Spending Fails to Stop Sherrod Brown's Senate Return

The crypto industry’s election spending topped $64 million, but it did not stop former Sen. Sherrod Brown from winning a return to the Senate as Republicans lost control of the chamber. Brown could now lead a Senate committee with jurisdiction over crypto. Three Republican House members also lost their seats: Bryan Steil, Zach Nunn and Ann Wagner. Their defeats add to the electoral setbacks for crypto-friendly lawmakers. Current Senate Banking Committee Chairman Tim Scott is expected to become a ranking member next Congress after Republicans lost the chamber.