Key Points:
Congressman Collins bought VELO and invested in Ethereum.
US lawmakers are showing increased interest in digital assets.
Mike Collins VELO investment amounts to $1,001-$15,000. In January, he disclosed up to $65,000 in Ethereum, with total purchases up to $110,000. His trades coincide with Ethereum's 11% rise in early January.
US Congressman Mike Collins has reportedly bought VELO, the native token of the Velodrome platform, on Optimism. On May 17, Collins processed the purchase, which was between $1,001 and $15,000.
Mike Collins VELO Purchase Revealed Amid Crypto Crisis Mike Collins VELO Purchase and Investments
In January, Collins disclosed an investment in Ethereum that he bought up to $65,000 in 2024, demonstrating US lawmakers' increasing interest in digital assets.
According to the House's Financial Disclosure Reports Database, Collins purchased Ethereum on January 3 and 8, worth up to $15,000 and $50,000, respectively. On record, his trades indicate that Collins has been making transactions in Ethereum since at least 2023, with total purchases amounting to up to $110,000.
Notably, Collins' buying activity of Ethereum aligns exactly with the token's rise of over 11% in just seven days—from approximately $2,200 on Jan. 3 to $2,466.
Source: Quiver Quantitative
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Controversy Surrounding Collins' Staff Choice
Mike Collins, unsuccessfully running for Georgia's 10th congressional district in the elections of 2014, had a political career that had begun a few years earlier.
When incumbent Paul Broun decided not to participate in the re-election, Collins announced his election in 2022. He defeated Vernon Jones in a runoff, advancing to face off against the Democratic nominee, Tabitha Johnson-Green, in the general election on November 8.
After winning the election, Collins generated some controversy by naming Brandon Phillips, who had previously made news in November 2022 as being arrested on a misdemeanour animal cruelty charge and had two more criminal incidents on his record as his chief of staff.
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