Meme coin holders have added another lawmaker to their club… Representative Michael Collins, who represents Georgia’s 10th congressional district. Collins already owns coins like Ethereum, VELO, GRT. On Monday, Collins submitted his sixth financial statement for the year 2024. It revealed three purchases involving cryptocurrencies made in the last two days. Here are all the details…
US Congressman holding Ethereum gets SKI
Georgia Republican Representative Michael Collins has revealed that he traded in the meme coin “Ski Mask Dog”, according to financial reports submitted to the House of Representatives. According to Stocktwits’ post on X, the disclosure shows that Collins invested between $1,000 and $15,000 in the token in two separate transactions between December 1 and December 2, 2024. Interestingly, the token has experienced a notable 10% increase since Collins’ purchase and is currently trading at $0.12 with a market capitalization of $12 million, according to DEX Screener data.
SKI, a meme coin on the L2 network Base incubated by Coinbase, began trading in April 2024. It has since achieved a market capitalization of about $135 million. According to blockchain analytics firm Artemis, the SKI acquisition marks Collins’ first exposure to meme coins, the best-performing sector in the crypto space, which have surged nearly 333% in the last year.
Collins’ interest in meme coins is not an isolated incident. In the same filing, the congressman disclosed similarly large purchases of Aerodrome, another low-capitalization token. This marks a departure from more traditional crypto investments, which are usually associated with institutional or high-profile traders focused on mainstream crypto assets like Bitcoin or Ether. Over the past year, Collins has taken a broader interest in crypto assets, buying Ethereum worth $65,000, Aerodrome worth $115,000, and smaller investments in The Graph (GRT) and Velodrome (VELO) worth $15,000 each.
His first purchase was ETH
Collins, who represents Georgia’s 10th Congressional District, was re-elected with 63.1% of the vote over his Democratic opponent Lexy Doherty. As a result, each of the Georgia representative’s 2024 financial disclosures consisted entirely of cryptocurrency transactions, with 14 purchases and 4 sales. The majority of his trades were valued between $1,001 and $15,000. Meanwhile, three trades, two of which were ETH purchases and the rest AERO, were valued between $15,001 and $50,000. Other cryptocurrencies in Collins’ financial disclosures earlier in the year included Ethereum’s ETH, Velodrome’s VELO and The Graph’s GRT. Collins’ first statement on cryptocurrencies came on August 3, 2023, when ETH was trading at $1,835. The price of ETH is currently at $3,615. C
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