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Georgia Representative Mike Collins, who has served Georgia's 10th Congressional District since 2023, recently disclosed a series of transactions involving altcoins. In financial disclosures filed with the House of Representatives between July and August, Collins reported acquisitions of Velodrome (VELO), {The Graph} (GRT), and Aerodrome Finance (AERO). The disclosed figures include purchases of up to $15,000 in VELO, up to $15,000 in GRT, and up to $115,000 in AERO. Additionally, Collins partially liquidated his AERO holdings on August 4, only to reinvest between $15,001 and $50,000 in the same asset on August 5.
These disclosures highlight a notable shift in Representative Collins’ cryptocurrency portfolio. Earlier in January, he had reported holding up to $65,000 in Ethereum (ETH). His recent moves into altcoins suggest a diversification away from major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).
As Collins seeks re-election in 2024, the broader political landscape shows increasing engagement with digital assets. Notable figures such as Texas Senator Ted Cruz and Wyoming Senator Cynthia Lummis have also disclosed holdings in cryptocurrencies. In contrast, Republican presidential nominee Donald Trump has expressed a desire to see all Bitcoin mined in the U.S., opposed central bank digital currencies, and has engaged with the crypto community. Representative Collins, a Republican, has indicated support for Trump’s 2024 campaign.
In contrast, Democratic nominee Kamala Harris has been relatively reserved on cryptocurrency matters. Following President Joe Biden’s announcement that he would not seek re-election, Harris has expressed general support for industry policies without specific details.
The Stop Trading on Congressional Knowledge (STOCK) Act mandates that U.S. lawmakers disclose their financial activities, including transactions in cryptocurrencies. This regulation has faced criticism for allowing members of Congress to oversee or propose legislation related to their financial interests without clear legal repercussions. Recently, a bipartisan group of senators proposed amendments to the STOCK Act to address concerns over the ethical implications of congressional trading activities. The likelihood of such amendments passing remains uncertain as discussions continue.
