Ohio Senate Candidate Bernie Moreno Sells Bitcoin Holdings to Avoid Potential Conflict of Interest

US Republican Senate candidate Bernie Moreno said he has sold his Bitcoin assets to deal with potential conflicts of interest with the crypto industry. He received more than $40 million in support from the "Defend American Jobs" political action committee in his campaign against incumbent Senator Sherrod Brown. Moreno said he was proud of the support of the crypto industry, emphasizing that it was because the industry agreed with his views, not because they had a consensus with each other. Meanwhile, Brown, as chairman of the Banking Committee, is skeptical of digital assets. Many polls in October showed that Moreno and Brown were within the margin of error in the 2024 election, and this seat could determine whether the Republicans can control the majority in the Senate. Even if Brown defeats Moreno, but the Republicans win a majority in the Senate, he will likely have to give up his position as chairman of the Senate Banking Committee starting in January 2025. In addition to the funding from the Support PAC, several high-profile cryptocurrency executives have donated directly to Moreno’s campaign, including Gemini co-founders Cameron and Tyler Winklevoss, Coinbase co-founder Fred Ehrsam, and Coinbase CEO Brian Armstrong. (Cointelegraph)