PANews reported on October 29 that according to Cointelegraph, Bernie Moreno, a Republican candidate for the U.S. Senate in Ohio, claimed that he had sold $70,006 worth of Bitcoin (BTC) holdings, a move apparently to avoid potential conflicts of interest with the support of the cryptocurrency industry. Moreno said he was "proud" of the support of the crypto industry in his campaign to defeat Senator Sherrod Brown.

The Senate candidate has received more than $40 million in support through media buys from the political action committee (PAC) Defend American Jobs, which is an affiliate of Fairshake and mainly helps Republican candidates. In addition to the financial support from the PAC, several well-known cryptocurrency executives, including Gemini co-founders Cameron and Tyler Winklevoss, Coinbase co-founder Fred Ehrsam, and Coinbase CEO Brian Armstrong, have also donated directly to Moreno's campaign. Moreno claimed that if elected to the Senate, he hopes to provide "regulatory certainty" for the crypto industry.