Bernie Moreno wins Ohio Senate seat from Sherrod Brown

As an analyst with years of experience in the tech and political spheres, I find Bernie Moreno’s victory in the Ohio Senate race to be a significant development, particularly for the crypto sector. Moreno’s extensive background in blockchain technology sets him apart as a seasoned pro-crypto voice who understands the industry’s intricacies and potential.

In a surprising turn of events, the Republican candidate with pro-cryptocurrency leanings, Bernie Moreno, has claimed victory over the current Democratic Senator, Sherrod Brown, in Ohio’s Senate race.

The Associated Press called Monero’s victory at 4:27 am UTC on Nov. 6.

Winning by Moreno not only brings an additional advocate for cryptocurrencies to the Senate, but it also eliminates a significant anti-crypto political figure who previously chaired the Senate Banking Committee – a position crucial for the passage of cryptocurrency laws.

A new pro-crypto voice in Washington

Previously uninvolved in politics, Moreno positioned himself as an outsider during his campaign. Surprisingly, he received support from numerous high-profile Republican figures, including Donald Trump, who described Moreno as “the ideal MAGA advocate we require in the Senate.

Coinbase CEO Brian Armstrong and billionaire Grant Cardone were also among his supporters.

The historic Senate race in the Brown-Moreno contest saw a staggering amount of money poured into advertising, totaling over half a million dollars as reported by NBC News. A significant portion of this expenditure was contributed by political action committees (PACs), with the pro-cryptocurrency super PAC Defend American Jobs being one of the major contributors, shelling out a massive $41 million to back Moreno.

Moreno shows all signs of being a dependably pro-crypto future legislator. He said in an X post:

“Forever politicians like Sherrod Brown and Joe Biden don’t understand the first thing about crypto and are totally unqualified to regulate it. They are obsessed with destroying crypto because they hate American innovation.”

Moreno advocates for establishing a National Reserve for Bitcoin (BTC) and assures efforts towards achieving “regulatory clarity.” During his campaign, he expressed this stance.

“Let me just end the myth right here: The crypto industry does not want no regulation. That’s totally false.”

A long-time pro-crypto voice in Ohio

According to LinkedIn, Bernie Moreno is the proprietor of Bernie Moreno Companies, which encompasses a varied assortment of businesses, including investments in software technology utilizing blockchain, diverse investments, and an exclusive car subscription service tailored to individual needs.

Bernie Moreno wins Ohio Senate seat from Sherrod Brown

Moreno’s background in cryptocurrency is robust. He co-founded Blockland Cleveland, an initiative aimed at fostering blockchain adoption within the local economy and boasting over a thousand members at its peak. Additionally, he advocated for the 2018 project to enable Ohio residents to pay their state taxes using Bitcoin (BTC).

In the year 2018, following a prosperous stint managing car dealerships, Moreno partnered to establish Champ Titles, a tech company specialized in government technology that employed blockchain for facilitating state issuance and management of vehicle ownership. Additionally, Moreno spearheaded an endeavor aimed at transforming a Cleveland mall into a hub dedicated to blockchain technology in 2019. However, this project ultimately opened as an “entrepreneurial center” instead.

In 2022, Moreno’s initial political venture was the Senate race, yet he halted his campaign prior to the primary elections. It’s said that Trump requested Moreno to withdraw in the same year. Notably, J.D. Vance, Trump’s former vice-presidential candidate, is a senator from Ohio as well.

2024-11-06 08:08

A new pro-crypto voice in Washington

A long-time pro-crypto voice in Ohio

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