Representative Mike Collins, who serves Georgia’s 10th Congressional District in the U.S. House of Representatives, has disclosed investments in three altcoins during his time in office. According to financial disclosure reports filed between July and August 2024, Collins revealed purchasing up to $15,000 in Velodrome (VELO), up to $15,000 in The Graph (GRT), and up to $115,000 in Aerodrome Finance (AERO). Notably, the reports also show that Collins partially sold his AERO holdings on August 4 before making another purchase between $15,001 and $50,000 on August 5.
These investments suggest that Collins, unlike many of his congressional peers who tend to invest in more established cryptocurrencies like Bitcoin and Ethereum, is actively trading tokens with smaller market capitalizations. Earlier in the year, Collins had disclosed purchasing up to $65,000 in Ether (ETH).
As the 2024 election season heats up, Collins, a Republican, is running to retain his seat in Congress. His support for Donald Trump’s 2024 presidential bid aligns with his party’s broader stance on digital assets. Trump has expressed opposition to central bank digital currencies and has been vocal about his intention to support Bitcoin mining within the U.S.
In contrast, Democratic nominee and Vice President Kamala Harris, who entered the race after President Joe Biden’s decision not to seek re-election, has remained relatively quiet on crypto and blockchain issues. However, a Harris campaign aide indicated during the Democratic National Convention in August that she would back policies supporting the industry.
Under the Stop Trading on Congressional Knowledge (STOCK) Act, U.S. lawmakers are required to report investments in stocks and cryptocurrencies. Despite ongoing criticism of this policy, it remains in place, allowing members of Congress to potentially influence legislation related to their investments without facing legal consequences. Calls for reform, including a July 2024 bipartisan proposal to amend the STOCK Act, continue to gain traction, but it remains uncertain whether such measures will pass this year.