Tim Ryan’s second career always seemed like it could pose a problem for him if he were to return to politics.
That career indeed is now coming under more scrutiny as he considers a comeback in next year’s election. Ryan’s work for the cryptocurrency industry could be tough to separate from the industry’s role in Sherrod Brown’s defeat in last year’s U.S. Senate race.
The cryptocurrency-backed political group, Defend American Jobs, spent $40 million to help Republican Bernie Moreno defeat Brown in November. It’s hard to say definitively that the crypto money alone – or any one source of ad spending – was the final dagger. But it did help tip the balance of spending in favor of Republicans.
Ryan has been outspoken in support of Big Crypto since Coinbase named him to its Global Advisory Council, a paid position, in 2023. His advocacy has included sitting for an industry-sponsored “Stand With Crypto” forum in Columbus last October. He also praised the U.S. Senate last week for a bipartisan vote that advanced a bill that’s a key priority for the industry. It was also a bill which Brown,who favored tougher regulations opposed by crypto interests, seemed unlikely to support had he been re-elected.
The potential 2026 Democratic dance card
Both Ryan and Brown might run for statewide office next year as Ohio Democrats look to regroup from years of election losses.
Ryan has been openly considering running for governor since late last year. He took a baby step toward actually doing it earlier this month when he started booking appearances at local Democratic functions and picked a consultant to help him handle media inquiries.
Meanwhile, Brown has signaled several options: running for governor or U.S. Senate – or staying on the sidelines. Brown launched a new advocacy group in March that could be a campaign in waiting or simply a way for him to remain involved in Democratic politics.
Dr. Amy Acton, the former state health department director for Republican Gov. Mike DeWine, is the lone Democrat in the governor’s race. A new poll from Bowling Green State University shows Brown with a big lead in a hypothetical three-way primary race between him, Ryan and Acton. Although it’s more likely that Brown’s entrance in the race would prompt others to step aside.
So, as the field shakes out, Ryan’s work for the crypto industry industry is something that is likely to become a sore spot among Brown and his allies. The controversy surrounding the industry also could slow some donors, activists and voters to jump on Ryan’s bandwagon, even if they don’t hold strong views on the issue itself.
Through a spokesperson, Ryan declined to comment on this story. But he’s defended his work, saying that he believes in the topics he’s advocating for.
They can’t eat cake on public’s dime
Republican state Sens. Tim Schaffer and Terry Johnson proposed legislation Wednesday that would direct state officials to prohibit Ohioans receiving food stamps from purchasing sweets, including soft drinks, candy, chips, ice cream, or prepared desserts.
Food assistance is distributed through the federal Supplemental Nutrition Assistance Program – commonly known as SNAP – and a program administered by the state. It was born out of both The Great Depression and President Lyndon B. Johnson’s war on poverty. Designed to end or at least limit food insecurity in America, the program touches 42 million Americans, including 1.5 million Ohioans, who receive an average of about $172 in SNAP benefits each month.
Democrats say food stamp legislation, known as Senate Bill 161, ignores the things Democrats say contribute to the unhealthier nutritional uptake: systemic poverty, lack of fresh produce in rural areas, and comparatively more expensive fruits and vegetables vs. processed foods.
The Ohio legislation is a spiritual descendant of U.S. Health and Human Services Secretary Robert F. Kennedy’s plans to “make America healthy again.” The Trump administration recently issued a report finding that children receiving SNAP benefits consume more sugar-sweetened drinks and processed meats than their counterparts, and all SNAP recipients are more likely to be diagnosed with heart disease, diabetes and metabolic disorders. The federal government recently approved similar state plans from Nebraska, Indiana and Iowa.
Schaffer, one of the two sponsors, has long suggested the presence of widespread waste, fraud and abuse within SNAP, despite some state findings to the contrary, and proposed different restrictions including mandatory asset testing of recipients.
By Jake Zuckerman
Senate budget bill dropping soon
Senate President Rob McColley, a Northwest Ohio Republican, was tight-lipped on Wednesday when reporters asked him about school funding, the Cleveland Browns stadium project, smart phone gambling and changes to the state’s Housing Trust Fund.
He did say the Senate plans to unveil its plan on Tuesday and pass it within two weeks.
Housing trust fund budget change could be undone
The House’s state budget plan has alarmed housing supporters by changing how Ohio funds affordable housing projects and homelessness prevention.
A top advocate said this week she’s confident the Senate will undo the move when it unveils its budget plan next week.
Amy Riegel, executive director of the Coalition on Homelessness and Housing in Ohio, said multiple senators have told her they support restoring the Ohio Housing Trust Fund to its current configuration, with some calling it one of their top priorities.
“We are very hopeful,” Riegel said. “We will be shocked if it isn’t changed.”
Since 1991, anyone who takes out a mortgage or refinances one pays a per-page fee to their county recorder that goes into a state pot called the Ohio Housing Trust Fund. The fee is set to raise $55 million this year, with the money providing funding to developers who include affordable housing units in their building projects and for local anti-homelessness programs. The fee and the fund were set up after Ohioans approved a housing ballot measure in 1990.
The House budget calls for putting county governments in charge of how to spend the housing fees raised in their county. Riegel said this could lead to a windfall in areas with a lot of real estate activity, like major cities. But it would hurt affordable housing support in rural areas, where she said homelessness has been on the rise recently.
“A two-by-four and a box of nails still cost the same whether you’re in Muskingum or Hamilton County, but rent is not the same,” Riegel said. “Because of the lower rents, it can often lead to there being a need for more subsidies.”
