Crypto and AI lost the midterms, and why they say they didn't

Crypto and AI super PACs spent about $250 million on the midterms, but most of their money in competitive races backed losing candidates, including $64 million spent against Sherrod Brown in Ohio, who won anyway. The industry points to high win rates padded by safe races, while crypto super PACs went one for six in competitive general elections and AI groups largely sat out the general election after primary losses. The article argues the industries tied themselves to Republicans ahead of a Democratic wave and now face Elizabeth Warren likely chairing Senate Banking and Maxine Waters leading House Financial Services.