Congressman Mike Collins and His Crypto Bet: A Sign of Changing Times?
Cryptocurrency is creeping further into the halls of power. As the 119th session of the United States Congress kicks off, one lawmaker is already making waves—not with a policy proposal, but with a crypto investment. On New Year’s Day, Representative Mike Collins, a Republican from Georgia, filed a financial disclosure revealing his latest foray into digital assets. And it wasn’t Bitcoin or Ethereum—it was a lesser-known token called Ski Mask Dog (SKI).
So, what does this mean? Is it just another case of a public official dabbling in crypto, or could it have broader implications for regulation and trust in government? Let’s dive in.
The Investment: A Calculated Move?
According to the financial disclosure report filed on Jan. 1, 2025, Collins purchased between $1,001 and $15,000 worth of SKI, a token that launched in May 2024. But this wasn’t his first rodeo—documents from December show that he made at least three SKI purchases in early December, each potentially up to $15,000.
Timing is everything in crypto, and Collins’ moves came on the heels of the U.S. election while digital asset prices were soaring. Whether this was a smart investment strategy or sheer coincidence is unclear, but it does raise eyebrows.
Representative Mike Collins’ financial disclosure of Ski Mask Dog token. Source: US House of Representatives
A Pro-Crypto Stance or Just Personal Interest?
Collins, who secured reelection with more than 63% of the vote, has dabbled in crypto before. Previous disclosures reveal investments in Ethereum (ETH), Velodrome (VELO), Aerodrome Finance (AERO), and The Graph (GRT). However, he hasn’t exactly been a vocal champion of digital assets in his public policy stances.
That said, he has backed some key pro-crypto legislation. He voted in favor of the Financial Innovation and Technology for the 21st Century (FIT21) Act—legislation that was widely praised by the crypto industry. He’s also expressed a desire to “move fast” in the 119th Congress, according to a recent statement. Could this be a sign that he’ll push for more crypto-friendly policies?
The Bigger Issue: Should Lawmakers Trade Crypto at All?
Collins isn’t alone in Congress when it comes to crypto investments. Texas Senator Ted Cruz and Wyoming Senator Cynthia Lummis have also disclosed holdings in digital assets. But these disclosures raise a bigger question—should lawmakers even be allowed to trade crypto and stocks while in office?
The Stop Trading on Congressional Knowledge (STOCK) Act requires members of Congress to disclose their financial transactions, including crypto. But critics argue that transparency isn’t enough—some lawmakers actively want to ban congressional stock and crypto trading altogether.
Just last summer, a bipartisan group of U.S. senators pushed to amend the STOCK Act to prohibit lawmakers from trading stocks due to potential conflicts of interest. With the next session of Congress now underway, will similar measures targeting crypto trading gain traction?
What’s Next?
As of Jan. 3, 2025, Representative Collins is the only member of Congress to file a financial disclosure for the year. That could change in the coming months—but his early documentation underscores the growing intersection between cryptocurrency and government.
With crypto legislation and regulation constantly evolving, lawmakers’ personal investments may come under increasing scrutiny. As the U.S. election cycle progresses and debates over financial transparency heat up, Collins’ trades may just be the tip of the iceberg.
One thing’s for sure: crypto isn’t going anywhere—on Wall Street, Main Street, or even Capitol Hill.
Related Reading:
📌 President Biden Proposes Ban on Congressional Stock Trading: Report
📌 How Crypto Laws Are Changing Across the World in 2025
What do you think? Should lawmakers be allowed to invest in crypto, or does it create too many conflicts of interest? Let’s discuss. 🚀💬
