At least two PACs aligned with the crypto industry have spent more than $52 million to stop Sherrod Brown from going back to the U.S. Senate. The spending is in the Ohio Senate race. Cointelegraph reported it on Oct 16, 2026.
The money comes from affiliates of Fairshake, a political action committee. Most of Fairshake's funding comes from Coinbase and Ripple Labs. These affiliates have now spent more than 50% above what they first announced.
According to the report, the Ohio contest could be important for which party controls Congress in 2026. The report does not split the $52 million between the PACs. It also does not say how much came from Coinbase and how much from Ripple Labs. The result of the race is not yet known.
For someone already holding a perpetual futures position on Bitget, Bybit, MEXC or OKX, this changes nothing directly. The report says nothing about funding rates, trading fees, margin rules or liquidity on any exchange. It is political spending in a U.S. Senate race, not a change in how perpetual contracts work or what they cost to hold.
Source: cointelegraph — Crypto PACs escalate spending against Sherrod Brown in Ohio Senate race