Crypto industry spending of over $64 million failed to prevent Democrat Sherrod Brown's return to the U.S. Senate in the midterm elections, potentially positioning him for a leadership role on committees with jurisdiction over digital assets. The election proved a difficult night for Republicans and the crypto sector, as pro-crypto House members Bryan Steil, Zach Nunn, and Ann Wagner lost their seats, while Mike Lawler conceded defeat in New York's 17th congressional district. Republicans lost control of the Senate, meaning current Senate Banking Committee Chairman Tim Scott is expected to become ranking minority member in the next Congress. In the House Financial Services Committee, Chairman French Hill faces an uncertain race but is projected to win narrowly and transition to ranking minority member, with Maxine Waters set to assume the chairmanship. On the positive side for the crypto community, pro-crypto Banking Committee member Pete Ricketts won re-election in Nebraska, and Rep. Andy Barr secured Kentucky's vacant Senate seat left by Mitch McConnell, where he may seek a position on the Banking Committee.