Crypto Titans’ $160 Million War Chest Threatens Senate Democrats

Crypto billionaires and their allies have amassed a $160 million war chest to protect their fortunes by bolstering US candidates who favor light-touch regulation of the embattled industry.

The staggering sum makes the crypto industry one of the most influential players in federal campaign finance. It’s the kind of money that’s already proven it can roil a California Senate race. In November, it could be pivotal in handing the Senate majority to Republicans.

Democratic control of the Senate hinges on the reelection of Banking Chairman Sherrod Brown of Ohio and Jon Tester of Montana, both cryptocurrency skeptics with tremendous ...