Crypto industry spending of more than $64 million did not stop Sherrod Brown from returning to the U.S. Senate, while several pro-crypto lawmakers lost their races in the midterm elections, BlockBeats reported, citing crypto reporter Eleanor Terrett.
Regulatory influence shifts
Brown, a former Senate Banking Committee chair, may take a leadership role on a committee with jurisdiction over crypto issues. Terrett’s summary described him as cautious toward digital assets and focused on consumer and investor protection, stronger disclosure, customer-asset segregation, conflict-of-interest controls and anti-money-laundering rules.
Representatives Bryan Steil, Zach Nunn and Ann Wagner lost their races. Mike Lawler conceded to Cait Conley, although the Associated Press had not made a final determination in New York’s 17th Congressional District when the report was published.
The report also said Maxine Waters is set to take over as House Financial Services Committee chair, while Tim Scott is expected to become the Senate Banking Committee’s ranking member after Republicans lost Senate control. These changes could shape the debate over crypto market structure and stablecoin rules.
Source: BlockBeats, published Nov. 4, 2026.