Sherrod Brown won back his Ohio Senate seat from Sen. Jon Husted even though about $64 million in crypto-industry money was spent against him, Bitcoin Magazine reported. Bitcoin Magazine said Sen. Elizabeth Warren is in line to chair the Senate Banking Committee.
Other races went against crypto-backed candidates too. James Talarico beat Ken Paxton in Texas with about 55% of the vote, and three House Republicans whom the industry had supported lost. The Associated Press called the Senate and the House for Democrats, and Rep. Hakeem Jeffries is in line to become speaker.
Bitcoin traded near $78,300 on Wednesday morning, up about 1%, after dipping to $75,618, a seven-week low. US spot bitcoin ETFs had shed about $1.16 billion over three sessions. Michael Saylor said: “the case for holding Bitcoin crosses party lines.”
The CLARITY Act, which passed the House 294-134 in July 2025, failed a Senate cloture vote 49-50 on September 15. Unless the lame-duck session revives it, the bill dies when the current Congress ends on January 3.
The results suggest that heavy spending did not guarantee outcomes in competitive races, a lesson the industry will weigh as it plans its approach to a Congress led by Democrats.
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