Follow the Money: The 5 Cryptos Favored by US Congress Members
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Under the 2012 STOCK (Stop Trading on Congressional Knowledge) Act, congressional members and other government employees are mandated to report stocks, bonds, and cryptocurrency trades of over $1,000 within 45 days of executing them.
Here is a compilation of the top 5 crypto choices, and a few little-known extra choices:
Top 5 crypto choices in the US Congress
The first is Bitcoin
BTCUSD
, the most widely held asset among legislators. Wyoming Senator (Sen.) Cynthia Lummis, a prominent speaker on crypto policy, disclosed her first Bitcoin purchase in 2013. Others who have made BTC purchases include Sen. Ted Cruz and Representatives (Rep.) Byron Donalds and Guy Reschenthaler, with reports of individual holdings worth up to $250,000.Other lawmakers, such as Rep. Sheri Biggs and Sen. Dave McCormick, have Bitcoin exposure through ETFs from Valkyrie, VanEck, and Ether. Meanwhile, a couple of others, such as Sen. Sheldon Whitehouse, have invested in Bitcoin-related companies, including PayPal, BlackRock, and The Block (formerly Square).
The second is Ethereum
ETHUSD
, held by members of Congress such as Reps. Mike Collins and Barry Moore, with the former holding up to $60,000 in ETH. Rep. Marjorie Taylor Greene and Sen. Dave McCormick have invested in Ethereum ETFs.Third is Solana
SOLUSD
and fourth is XRP, both reported by Rep. Guy Reschenthaler, and each valued at up to $15,000. Fifth is Cardano
ADAUSD
, disclosed by Reps. Barry Moore and Mike Collins, with the former holding a portion worth up to $45,000.Little-known coins
While the above constitute the top 12 crypto coins by market cap, policymakers have also made some outlier investments. Rep. Mike Collins purchased the Ski Mask Dog PYTH:SKIUSD, while Rep. Madison Cawthorn held and promoted the LGB Coin.
Other coins in this category include The Graph
GRTUSD
, Velodrome
VELOUSD
, and Aerodrome Finance
AEROUSD
.In the past 24 hours, all these cryptocurrencies have gained between 1.8% and 4% following shifts in the geopolitical and macroeconomic environment.
Source: CoinMarketCapSKI, however, stands out, having dropped 2.86%.
Source: CoinMarketCap
source; https://www.tradingview.com/news/coinpedia:269a32a8c094b:0-follow-the-money-the-5-cryptos-favored-by-us-congress-members/
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