Crypto firms Coinbase and Ripple Labs have backed political action committees (PACs) that are supporting Republican candidate Bernie Moreno in his bid to unseat Senator Sherrod Brown, who chairs the Senate Banking Committee. The PACs, including Fairshake PAC and its affiliates, have committed $40m to support Moreno's campaign, the largest single outlay from the crypto industry. Recent polls show Moreno gaining ground on Brown in Ohio's Senate race. Some crypto insiders have expressed concerns that the open warfare against Brown could harm the industry's legislative drive if he is re-elected.



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