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#sherrod

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Chuck Darwin<p>Democratic leaders are telling their party's biggest donors that keeping Montana's Senate seat blue is a real challenge. <br>However, they are planning to go on offense in Florida to retain their majority.</p><p>Why it matters: <br>Without Montana, the math for Senate Majority Leader Chuck Schumer (D-N.Y.) to keep his job gets very difficult.</p><p>But Democrats are signaling they want to expand the playing field and be in a position to steal Republican seats in states like <a href="https://c.im/tags/Florida" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Florida</span></a>. <br>-- Yes, it's still red, but former President Trump isn't expected to win by double digits.</p><p>They are also eyeing <a href="https://c.im/tags/Texas" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Texas</span></a>, where a recent poll has Sen. Ted Cruz (R-Texas) up by three points against Rep. <a href="https://c.im/tags/Colin" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Colin</span></a> <a href="https://c.im/tags/Allred" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Allred</span></a> (D-Texas).</p><p>Driving the news: </p><p>Officials acknowledged Sen. <a href="https://c.im/tags/Jon" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Jon</span></a> <a href="https://c.im/tags/Tester" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Tester</span></a> (D-Mont.) is down in the polls, but party strategists still see a path for him to defy the odds and win, just like Sen. Susan Collins of Maine did on the Republican side in 2020.</p><p>"It sounds like Gary Peters is thinking about abandoning Jon Tester," NRSC spokesperson Philip Letsou told Axios. "No matter what Democrats do, the NRSC will do whatever it takes to ensure Ted Cruz and Rick Scott defeat the radical liberals Chuck Schumer and his billionaire allies have propped up against them."</p><p>The intrigue: <br>Republicans held their donor retreat just up the coast in Sea Island, Georgia, where the National Republican Senatorial Committee explained why they are eyeing a 52-seat majority.</p><p>At both events, there was a mixture of hope and fear.</p><p>In addition to Montana, there were concerns about <a href="https://c.im/tags/Ohio" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Ohio</span></a>, where Sen. <a href="https://c.im/tags/Sherrod" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Sherrod</span></a> <a href="https://c.im/tags/Brown" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Brown</span></a> (D-Ohio) faces a tough re-election in a state Trump could carry by eight or nine percentage points.</p><p>The most optimistic pitch the Democratic donors received was from <a href="https://c.im/tags/Tennessee" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Tennessee</span></a> state Rep. <a href="https://c.im/tags/Gloria" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Gloria</span></a> <a href="https://c.im/tags/Johnson" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Johnson</span></a>, their party's nominee to defeat Sen. Marsha Blackburn (R-Tenn.) in a race the Cook Political Report is rating a "solid R."</p><p>What we're hearing: <br>Democrats are contemplating a late blitz in the Florida Senate race, where Sen. Rick Scott (R-Fla) has just a two-point lead over former Rep. <a href="https://c.im/tags/Debbie" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Debbie</span></a> <a href="https://c.im/tags/Mucarsel" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Mucarsel</span></a>-<a href="https://c.im/tags/Powell" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Powell</span></a> in the latest public poll.</p><p>While air time hasn't been officially booked, Democratic sources tell us they expect the DSCC to make a splash in Florida in the coming weeks.</p><p>From Labor Day to Election Day, Democrats have spent or reserved some $5.6 million in advertising in Florida, according to AdImpact.</p><p>Over the same period, Republicans are at $4.4 million, but Scott's campaign likes to buy week to week, meaning they could pump more money into the race if they feel it's warranted.</p><p><a href="https://www.axios.com/2024/09/25/senate-democrats-florida-rick-scott-mucarsel-powell" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">axios.com/2024/09/25/senate-de</span><span class="invisible">mocrats-florida-rick-scott-mucarsel-powell</span></a></p>
Chuck Darwin<p>Crypto Comes For Sherrod Brown: </p><p>$32 Million in Ads Boosting His Opponent</p><p>Crypto companies are spending $800,000 a day to take out one of their chief critics in Congress — and replace him with an ally</p><p>Late 2023 was not a great time for the crypto industry. </p><p>In November, <a href="https://c.im/tags/Sam" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Sam</span></a> <a href="https://c.im/tags/Bankman" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Bankman</span></a>-<a href="https://c.im/tags/Fried" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Fried</span></a>, the founder of the FTX cryptocurrency exchange, learned that no amount of Michael Lewis gymnastics could save him from being convicted on seven charges of fraud and conspiracy. </p><p>He was eventually sentenced to 25 years in prison after disappearing $11 billion of other people’s money. </p><p>The following month, Sen. <a href="https://c.im/tags/Elizabeth" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Elizabeth</span></a> <a href="https://c.im/tags/Warren" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Warren</span></a> sent letters to three crypto industry giants, the 🔸Blockchain Association, 🔸Coin Center, and 🔸Coinbase, criticizing them for undermining efforts to rein in crypto’s use in <a href="https://c.im/tags/terrorist" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>terrorist</span></a> <a href="https://c.im/tags/financing" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>financing</span></a>.</p><p>Around the same time, crypto groups began making noises about ♦️spending money in 2024 to defeat Ohio Sen. <a href="https://c.im/tags/Sherrod" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Sherrod</span></a> <a href="https://c.im/tags/Brown" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Brown</span></a>, the current ⭐️chairman of the Senate Banking Committee. </p><p>❇️ Brown is a profound skeptic of the industry and signed off on Warren holding hearings on crypto’s possible links to terrorism. </p><p>Asked about the threats, Brown, a mop-topped Democrat with a raspy voice and wry sense of humor, said he was unconcerned.</p><p>But Brown had no idea of what was to come.</p><p>Rolling Stone has learned that crypto interests are set to spend💥 $32 million on TV ads promoting <a href="https://c.im/tags/Bernie" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Bernie</span></a> <a href="https://c.im/tags/Moreno" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Moreno</span></a>, Brown’s Republican opponent, by the end of September, according to Democratic media buyers. </p><p>The spending began on August 22 <br>— meaning 🔥the crypto interests are spending more than $800,000 per day to flip the Ohio Senate seat, and potentially control of the Senate. </p><p>“Outside groups are spending record amounts to try to defeat Sherrod because they know he will always fight for Ohio, not special interests,” said Reeves Oyster, a Brown campaign spokesperson.</p><p>So far, the ads have been primarily fluffy positive spots boosting Moreno; some of the spots fearmonger about immigrants and China. </p><p>Tracing the roots of "Defend American Jobs" can be as convoluted as tracing crypto currency itself. </p><p>The group is effectively a subsidiary of <a href="https://c.im/tags/Fairshake" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Fairshake</span></a> <br>— the second-largest fundraiser among Super PACs this season according to OpenSecrets, <br>with over $200 million in its coffers. </p><p>♦️The bulk of Fairshake’s money has been donated by three crypto monoliths: Coinbase, Andreessen Horowitz, and Ripple. </p><p><a href="https://c.im/tags/Coinbase" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Coinbase</span></a> and its affiliates have donated $86 million. </p><p>The founders of the venture capital firm <a href="https://c.im/tags/Andreessen" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Andreessen</span></a> <a href="https://c.im/tags/Horowitz" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Horowitz</span></a> have together given $44 million. </p><p><a href="https://c.im/tags/Ripple" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Ripple</span></a> has contributed $25 million. (The <a href="https://c.im/tags/Winklevoss" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Winklevoss</span></a> <a href="https://c.im/tags/Twins" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Twins</span></a>, who donated nearly $5 million to Fairshake, previously tried to donate $1 million in bitcoin to Donald Trump <br>— well beyond what is legal.)</p><p>Coinbase’s CEO <a href="https://c.im/tags/Brian" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Brian</span></a> <a href="https://c.im/tags/Armstrong" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Armstrong</span></a> has led the latest charge to bring crypto into the political mainstream, <br>hosting a Super Tuesday rally with Nas in Los Angeles where he proclaimed, <br>“More Americans own crypto than own electric vehicles or are in a union <br>— yet some people in D.C. are still underestimating how much and how many people care about crypto. </p><p>In 2024, it will become clear that being anti-crypto is bad politics.”</p><p>Rep. <a href="https://c.im/tags/Katie" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Katie</span></a> <a href="https://c.im/tags/Porter" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Porter</span></a> found that out the hard way. </p><p>During the California Democratic Senate primary, ⚠️Fairshake spent over $10 million against her campaign, apparently because she had the temerity to question the energy uses of the industry. </p><p>Porter didn’t make the runoff, losing to Adam Schiff, a longtime collaborator with crypto who received an ‘A’ rating from "Stand With Crypto", a self-described grassroots advocacy hub nonprofit led by Coinbase and fronted by Armstrong. </p><p>Porter got an ‘F.’<br><a href="https://www.rollingstone.com/politics/politics-features/sherrod-brown-crypto-bernie-moreno-millions-1235102478/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">rollingstone.com/politics/poli</span><span class="invisible">tics-features/sherrod-brown-crypto-bernie-moreno-millions-1235102478/</span></a></p>
Chuck Darwin<p>Since the start of the year, there have been<br> $723 million worth of campaign ad buys <br>for just three Senate races: <br>in Ohio, Pennsylvania and Montana, according to AdImpact data.</p><p>A fierce battle for control of the Senate is fueling the expected record-breaking ad spending this election cycle. </p><p>The investment so far points to the races both parties deem most critical for the majority.</p><p>Democrats have long held a fundraising advantage over Republicans, which is helping them play defense in nine competitive Senate races.</p><p> Ohio is the only Senate race in which Republicans have been spending more than Democrats on campaign ads and reservations <br>— though this is largely due to it having one of the only highly competitive Senate GOP primaries this year. <br>Republican Bernie Moreno won the Ohio primary and will face Democratic incumbent Sen. <a href="https://c.im/tags/Sherrod" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Sherrod</span></a> <a href="https://c.im/tags/Brown" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Brown</span></a> in November.<br> <br>The showdowns between Sen. <a href="https://c.im/tags/Bob" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Bob</span></a> <a href="https://c.im/tags/Casey" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Casey</span></a> (D) and Dave McCormick in Pennsylvania <br>and Sen. <a href="https://c.im/tags/Jon" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Jon</span></a> <a href="https://c.im/tags/Tester" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Tester</span></a> (D) and Tim Sheehy in Montana <br>come in second and third for ad spending and booking for both parties, so far.</p><p> The $70.5 million of spending in California was driven by heated Senate primary. Rep. <a href="https://c.im/tags/Adam" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Adam</span></a> <a href="https://c.im/tags/Schiff" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Schiff</span></a> (D-Calif.) is expected to have an easy general election in November.</p><p> Totals include ad reservations made so far through Election Day, though those reservations are expected to keep coming.</p><p><a href="https://www.axios.com/2024/08/07/senate-campaign-2024-election-ad-spending-republicans-democrats" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">axios.com/2024/08/07/senate-ca</span><span class="invisible">mpaign-2024-election-ad-spending-republicans-democrats</span></a></p>
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