US Congress Members Pro Crypto Politicians Engaged in Cryptocurrencies Trading Investments Recently

7 min read

Members of Congress and Lawmakers, their staff, and employees of the Executive Branch are required to declare stock, bond, commodity, and other equity trades within 45 days of the trade under the STOCK Act, which was passed in 2012. In a 2018 memorandum, the House Committee on Ethics added cryptocurrencies to the list.


Rep. Madison Cawthorn has been chastised for failing to declare $950,000 in cryptocurrency exchanges, which included Bitcoin, Ethereum, and Solana.

But he’s not the only member of Congress who has traded cryptocurrency, and he’s not the only one who has filed his reports late.

Members of Congress, their staff, and employees of the Executive Branch are required to declare stock, bond, commodity, and other equity trades within 45 days of the transaction under the STOCK Act, which was passed in 2012. In a 2018 memorandum, the House Committee on Ethics added cryptocurrencies to the list.

Every annual financial disclosure report filed by Sen. Ted Cruz (R-TX) since he was elected has been given a 90-day extension. Sen. Cynthis Lummis (R-WY) revealed her purchase of $50,000 and $100,000 in Bitcoin on August 16, 2021 in a report filed 52 days after the transaction—a week after it was due.

Because lawmakers fill out their forms in different ways, it can be difficult to determine who owns what.

Rep. Marie Newman (D-IL), for example, maintains a list of individual stocks, such as Coinbase (COIN), that are purchased and sold through her husband’s Individual Retirement Account (IRA). Many of her coworkers, on the other hand, just put the name of a retirement or money market account without specifying which stocks are held in it.

What follows is a list of U.S. members of Congress who have disclosed crypto trades since 2020—Cardano (ADA), Bitcoin (BTC), and yes, Dogecoin (DOGE)—on reports filed through Friday, June 10. It was compiled using U.S. House of Representatives Financial Disclosure Reports, U.S. Senate Financial Disclosures and 2iQ’s Capitol Trades database.

It demonstrates a clear ideological divide: Republicans purchase actual cryptocurrencies, while Democrats invest in crypto-related stocks such as Coinbase (COIN) and MicroStrategy (MSTR).

Who bought crypto?


Sen. Ted Cruz (R-TX)

Sen. Ted Cruz, a Texas Republican who has been in the Senate since 2013, acknowledged buying Bitcoin worth between $15,000 and $50,000 on the River Financial exchange on Jan. 25. The report was submitted on February 4th.

Cruz has been a vocal proponent of the cryptocurrency business. In January 2021, following the GameStop short squeeze, which saw the company’s stock rise 400% in a week, Cruz took the unusual step of saying he agreed with Rep. Alexandria Ocasio-Cortez (D-NY) when she was called for a hearing on Robinhood’s decision to prevent retail investors from trading GME during the squeeze.

Sen. Pat Toomey (R-PA)

Sen. Pat Toomey has represented Pennsylvania in the U.S. Senate since 2011. He notably bought between $1,000 and $5,000 worth of Grayscale Ethereum Trust (ETH) on June 14, 2021, and between $1,000 and $5,000 worth of Grayscale Bitcoin Trust in June 2021.

It’s notable because he did it right after publicly disagreeing with Treasury Secretary Janet Yellen, who oversees FinCEN, about a proposed rule that would monitor cryptocurrency transactions. He reported both trades in a July 8, 2021, financial disclosure report.

Toomey has a track record of being crypto-friendly, asking his fellow lawmakers not to “strangle this baby in the crib” after Facebook teased the launch of its Libra Project. The project never made it off the ground, but he’s continued to support crypto-friendly legislation.

He co-sponsored an (ultimately unsuccessful) amendment to the $1.2 trillion bipartisan spending bill with Sen. Cynthia Lummis (R-WY) that would have exempted crypto miners from a new broker definition that would carry tax reporting requirements.

In April, he debuted a draft of the Stablecoin Transparency of Reserves and Uniform Safe Transaction Act. The TRUST Act explicitly says that stablecoins would not be treated as securities and limits the issuance of them to insured depository institutions, money transmitting businesses, or a national limited payment stablecoin issuer.

Sen. Cynthia Lummis (R-WY)

Sen. Cynthia Lummis, a Republican who’s been representing Wyoming in the Senate since 2009, likes to brag that she first bought Bitcoin in 2013. More recently, she reported that she bought between $50,001 and $100,000 worth of Bitcoin on August 16, 2021, through River Financial.

She also reported that she bought between $100,001 and $250,000 worth of Bitcoin through Unchained Capital in her 2021 annual report, filed on May 16, 2022. Lummis also noted that a qualified blind trust that will hold her BTC is pending approval from the Senate Ethics Committee.

House of Representatives

Rep. Michael McCaul (R-TX)

Rep. Michael McCaul, a Texas Republican who has been in Congress since 2005, purchased Grayscale Bitcoin Trust (GBTC) for between $1,000 and $15,000 on Jan. 13, 2021, and disclosed it on Feb. 26, 2021.

When McCaul bought GBTC, it was still trading at a premium of 18 percent over the net asset value, or NAV, of actual Bitcoin. However, in February 2021, GBTC lost its premium, meaning it stopped outperforming Bitcoin, and it hasn’t been able to restore it since.

In comparison to Bitcoin, GBTC was trading at a 30% discount on Friday, June 10.

Rep. Madison Cawthorn (R-NC)Since 2021, Republican Rep. Madison Cawthorn has represented North Carolina in Congress.

He reported trading between $116,000 and $265,000 worth of Kryll (KRL), $61,000 to $215,000 worth of Ethereum (ETH), $48,000 to $195,000 worth of Solana, $47,000 to $180,000 worth of Bitcoin, $3,000 and $45,000 worth of Request (REQ), the Request Network’s native token, and $15,000 to $50,000 worth of Let’s Go Brandon in a financial disclosure dated June 8. (LGB).

Cawthorn previously disclosed in a May 27 filing that he had purchased up to $250,000 LGB on December 21 and then sold at least $100,000 of it on December 31.

LGB has been a controversial anti-Joe Biden coin and the reason Cawthorn is being investigated for insider trading by the House Committee on Ethics.

Rep. Kenny Merchant (R-TX)

Former Texas Rep. Kenny Merchant, a Republican who served in the House of Representatives from 2005 to 2021, bought Grayscale Bitcoin Trust for between $2,000 and $30,000 in two deals in October 2020.

When he bought the GBTC shares, the fund was trading at a premium of 18% to 20% over Bitcoin at the time. This shows that the value of GBTC was higher than the value of BTC at the time.

Merchant reported his deals 50 and 56 days after they took place in reports filed 50 and 56 days later.

Rep. Mark Green (R-TN)Rep. Mark Green purchased between $2,000 and $30,000 in Ethereum Classic (ETC), $2,000 to $30,000 in Dogecoin (DOGE), $1,000 to $15,000 in Chainlink (LINK), $1,000 to $15,000 in EOS, and $1,000 to $15,000 in Stellar Lumens in March and April 2021. (XLM).

Green is one of just two members of Congress who has traded DOGE.

Ethereum Classic and the Ethereum mainnet used to be one and the same. It still exists, but the last time Ethereum Classic transactions were in sync with the current mainnet was on July 20, 2016.

In May, he sold $2,000 to $30,000 worth of ETC, $1,000 to $15,000 worth of DOGE, and a portion of his LINK and XLR holdings.

On May 12, he purchased Basic Attention Token (BAT), the native token of the Brave privacy browser, and Celo (CELO), a blockchain ecosystem targeted for mobile phones, for $1,000 to $15,000 apiece. He sold BAT and CELO for between $1,000 and $15,000 each four days later.

His financial disclosures were all submitted on time.

Rep. Felix Moore (R-AL)Rep. Felix Moore, a Republican who served in the House of Representatives from 2010 to 2018, was elected to the open seat in January 2021 when Rep. Martha Roby (R-AL) retired. He purchased Cardano (ADA) for $3,000 to $45,000, Dogecoin (DOGE) for $1,000 to $5,000, and Ethereum for $1,000 to $5,000. (ETH).

He disclosed all of the trades in a statement dated July 3, 2021, which was filed outside of the STOCK Act’s 45-day disclosure window.

On Oct. 23, 2021, he sold a portion of his Cardano (ADA) assets valued $1,000 to $5,000. On Oct. 27, barely four days later, he reported the sale.

Rep. Michael Waltz (R-FL)

On June 14 and 16, Rep. Michael Waltz, a Republican who has represented Florida since 2019, claimed buying between $15,000 and $50,000 worth of Bitcoin. In July, all of the trades were reported on time.

But keep in mind that Waltz requested an extension on a report that was due on May 15, 2022. That indicates he has more business dealings to disclose. His new due date has been set for August 13th.

Who bought crypto stocks?

Rep. Marie Newman (D-Calif) (D-IL) Rep. Marie Newman, a Democrat from Illinois who has served the state since 2021, reported 18 Coinbase (COIN) trades valued between $100,000 and $235,000 in July 2021, and bought Grayscale Bitcoin Trust (GBTC) for between $16,000 and $65,000 in two deals on November 9, 2021 and January 4, 2022.

Rep. Tomasz Malinowski (D-NJ)

Rep. Tomasz Malinowski, a New Jersey Democrat who’s been serving in the House of Representatives since 2019, sold short between $1,000 and $15,000 worth of Microstrategy (MSTR) shares on July 11, 2019. He then bought between $1,000 and $15,000 worth of MSTR on August 16 the same year to cover his short position.Both transactions were disclosed two years after they occurred, on August 27, 2021.

Rep. Ed Perlmutter (D-CO)

The Colorado Democrat, was a member of the House of Representatives from 1995 to 2003. He resumed office in 2007 and has since said he will not seek re-election in 2022.

Perlmutter reported the purchase of between $1,000 and $15,000 worth of Coinbase (COIN) shares on Sept. 23, 2021 and reported it on Oct. 27, 2021. The shares were then sold on Dec. 21, 2021, which was disclosed in a Jan. 26, 2022, report.According to his filings, the shares are owned by his wife.

Rep. Alan Lowenthal (D-CA)

The California Democrat served in the Senate from 2004 to 2012, then won a seat in the House of Representatives and has been serving there since 2013. He bought between $1,000 and $15,000 shares of Coinbase (COIN) on April 14, 2021. He then sold the shares on June 24, 2021.Both transactions were reported in July 6 and 7 disclosure reports, meaning the COIN trade was disclosed late—83 days after the transaction occurred.

Rep. Jake Auchincloss (D-MA)

Rep. Jake Auchincloss, a Democrat who’s been representing Massachusetts since 2021, reported the sale of an equity stake in Flipside Crypto, Inc. worth between $15,001 and $50,000 on March 22.“I sold my interest in Flipside Crypto, Inc., a company that I invested in before my election to Congress, for an amount below fair market value, as defined by the company’s most recent valuation,” he wrote in a comment on the report, which was filed on April 10.Auchincloss indicated on the report that he realized a capital gain of more than $200 as a result of the sale.

Rep. Donald Sternoff Beyer (D-VA)

Rep. Don Beyer sold 30 shares of Block, Inc. (SQ) in a transaction worth $1,001 to $15,000 during the week of Feb. 10. He indicated on the report, which was filed on March 3, that he realized a capital gain of $1,578 as a result of the sale.

Sen. Pat Toomey (R-PA)

Sen. Toomey makes his second appearance on this list because one of his kids traded GameStop (GME) when the infamous short squeeze, coordinated by the WallStreetBets Reddit community, occurred. His disclosure report, filed on Feb. 9, 2021, shows that one of his three children bought between $1,000 and $15,000 worth of GME on Jan. 27 and then sold it at a loss the next day.

Rep. Mike Garcia (R-CA) 

Rep. Mike Garcia, a Republican from California, purchased between $1,000 and $15,000 worth of GME on June 21, 2021. He hasn’t yet reported selling it.

Congress goes META

Thirty-eight members of Congress have listed Meta Platforms (META) trades worth up to $13.9 million in their financial disclosures. Of them, 14 have traded it since the company rebranded itself as Meta Platforms in October. Meta is a popular stock in Congress. In fact, it’s the fifth-most traded stock (behind Microsoft, Apple, Amazon, and Alphabet) based on financial disclosure reports from the past three years. Reps. Diana Harshbarger (R-TN), Michael McCaul (R-TX), Rob Wittman (R-VA), Jim Banks (R-IN), and Sens. Jerry Moran (R-KS) and Tommy Tuberville (R-AL) have disclosed up to $2 million worth of META trades since the rebrand.Meanwhile, Reps. Jim Langevin (D-RI), Josh Gottheimer (D-NJ), Ro Khanna (D-CA), Kathy Manning (D-NC), Walter Schrader (D-OR), John Garamendi (D-CA), Deborah Ross (D-NC) and  Nancy Pelosi (D-CA) and Sen. John Hickenlopper (D-CO) disclosed up to $2 million worth of META trades since the company rebranded to emphasize its focus on the metaverse.

Pending Crypto Laws and Regulations

After years of reluctantly acknowledging the crypto industry, the U.S. government has dramatically ramped up its willingness to talk about, legislate and litigate in the Web3 space.On June 7, Sens. Lummis and Kirsten Gilibrand (D-NY) introduced a Senate bill that would end the SEC’s oversight of most crypto. In March, President Joe Biden signed his executive order on Ensuring Responsible Development of Digital Assets, which laid out plans for how the government should approach consumer protection, illicit finance, financial inclusion, and “responsible development.”The Department of Justice has asked for international cooperation chasing down criminals who use crypto. Treasury Secretary Yellen has been one of many regulators to call for investor protections to shield investors from events like the Terra stablecoin collapse.  There aren’t many actual laws or regulations yet, but the government is paying attention.“A stablecoin known as TerraUSD experienced a run and declined in value,” Yellen said a day after TerraUSD took a nosedive. “I think that this simply illustrates that this is a rapidly growing product and there are rapidly growing risks.”

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