A major US political action committee, the Sentinel Action Fund, which is supported by the Solana Policy Institute, has pledged a substantial advertising budget to oppose the Senate campaign of former Senator Sherrod Brown, a Democrat and well-known crypto critic, who is attempting to return to Washington in the Ohio Senate election this year. According to a statement released on Wednesday, the Sentinel Action Fund and its affiliated nonprofit, Right Vote, have committed $8 million to support Jon Husted, the Republican candidate, accusing Brown of hindering pro-innovation policies related to digital assets during his previous tenure as chairman of the Senate Banking Committee. 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 called 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 indicated a tight race between Husted and Brown, with the outcome potentially shifting the course of crypto legislation.
The Solana Policy Institute has donated $750,000 to the Sentinel Action Fund, while also splitting its campaign spending between Republican and Democratic PACs with opposing goals.