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

A U.S. 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 Sentinel Action Fund and its affiliated nonprofit, Right Vote, have committed $8 million to support Jon Husted, the Republican candidate, according to a recent statement. The committee has accused Brown, who previously chaired the Senate Banking Committee, of hindering pro-innovation policies related to digital assets. The super PAC receives funding from the Solana Institute, crypto venture firm Multicoin Capital, and several prominent financial figures, including Blackstone CEO Stephen Schwarzman and billionaire Paul Singer. 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 the Fellowship PAC, in supporting pro-digital assets candidates. The Solana Policy Institute has donated $750,000 to the Sentinel Action Fund, while also splitting its party allegiances in its campaign spending, donating $2 million to Republican congressional PACs and $1.5 million to Democratic PACs with opposing aims. The outcome of the Senate election could impact the course of crypto legislation, although the industry has garnered significant bipartisan support in Congress.