Mike Collins, a Republican who was re-elected to the House of Representatives in the 10th Congressional District of Georgia owns Ethereum. According t
Mike Collins, a Republican who was re-elected to the House of Representatives in the 10th Congressional District of Georgia owns Ethereum. According to Quiver Quantitative, Collins revealed an Ethereum investment of almost $80,000.
This was revealed in a post on X in November by the platform, which keeps tabs on the trades and investment purchases of prominent public figures
The lawmaker reportedly bought $15,000 worth of Aerodrome (AERO) in addition to Ethereum. Aerodrome is a decentralized exchange and automated market maker that serves as the main source of liquidity for Base, a layer-2 Ethereum network that Coinbase introduced. Rep.
Three days after Donald Trump’s overwhelming victory in the U.S. election, Collins revealed the altcoin investment that caused the cryptocurrency to soar.
Sentiment turned extremely bullish Following Trump’s victory, and the price of Ethereum increased in tandem with Bitcoin.
ETH has yet to recover to regain its year-to-date high above $4k, almost 40% below its all-time high above $4.8k, attained in May 2021.
Collins is not the first lawmaker to reveal that they own cryptocurrency, but his action points to a possible new trend as the sector makes its mark in the U.S. legislative map with the most elected candidates who support cryptocurrency.
The cryptocurrency market is also generally doing well as the industry attempts to move past the Securities and Exchange Commission’s unfavorable regulatory approach. Over the last four years, the SEC, led by Chair Gary Gensler, has advocated a crackdown that detractors claim threatened to pull the world’s most powerful economy back of the areas of blockchain and cryptocurrency innovation.
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