A major U.S. political action committee, the Sentinel Action Fund, backed by the Solana Policy Institute, has pledged a substantial advertising investment to support the opponent of former Senator Sherrod Brown, a notable cryptocurrency skeptic and Democrat seeking to return to Washington in the Ohio Senate election this year. 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 criticized Brown, who previously chaired the Senate Banking Committee, for allegedly hindering pro-innovation policies related to digital assets. The super PAC receives funding from the Solana Institute, crypto venture firm Multicoin Capital, and prominent financial figures such as Stephen Schwarzman, Ken Fisher, Cliff Asness, and Paul Singer. The leading donor to the PAC is a nonprofit, Townsend Six Corp., established in late 2024 with an $8 million contribution from an unidentified donor.
The Ohio election is expected to be a highly contested Senate battle that will determine the majority of the chamber next year. Recent polls indicate a close race between Husted and Brown. The Sentinel Action Fund joins other crypto industry-backed PACs, such as Fairshake and the Fellowship PAC, in supporting candidates who favor digital assets.
The Solana Policy Institute has donated $750,000 to the Sentinel Action Fund, while also contributing to both Republican and Democratic PACs. A Democratic win in the Senate or House of Representatives could potentially influence the trajectory of crypto legislation, although the industry has garnered significant bipartisan support in Congress.