Millions Spent by Solana Policy Institute-Backed PAC to Block Sherrod Brown's Senate Bid

A conservative political action committee, the Sentinel Action Fund, which is backed by the Solana Policy Institute, has pledged a substantial advertising budget to support the opponent of former Senator Sherrod Brown, a Democrat and vocal crypto critic, in the Ohio Senate election. The committee, along with its affiliated nonprofit Right Vote, has committed $8 million to support Jon Husted, the Republican candidate, according to a recent statement. The committee has criticized Brown, who previously chaired the Senate Banking Committee, for allegedly hindering pro-innovation policies related to digital assets. The super PAC is partially funded by the Solana Institute and crypto venture firm Multicoin Capital, as well as prominent financial figures such as Stephen Schwarzman, Ken Fisher, Cliff Asness, and Paul Singer. However, the leading donor to the PAC is a nonprofit, Townsend Six Corp., which was established in late 2024 with an $8 million contribution from an unidentified donor. The Ohio election is expected to be one of the highly contested Senate battles that will determine the majority of the chamber next year. Recent polls have shown the race between Husted and Brown to be neck and neck, despite Husted's initial strong lead. The Sentinel Action Fund joins other crypto industry-backed PACs, such as Fairshake and Fellowship PAC, in supporting pro-digital assets candidates. The Solana Policy Institute has donated $750,000 to the Sentinel Action Fund, but has also split its party allegiances in its campaign spending, donating $2 million to Republican congressional PACs and $1.5 million to Democratic PACs with opposing aims.