The US legislature has reported ETH purchases of up to $65,000 in 2024
According to disclosure documents filed with the US House of Representatives, Georgia Representative Mike Collins has purchased up to $65,000 worth of Ether (ETH) in 2024.
According to a Jan. 9 filing with the House Financial Information Reports database, Rep. Collins said he bought up to $15,000 worth of ETH on Jan. 3 and up to $50,000 worth on Jan. 8. Trading ETH since at least 2023 with similar records, reporting total purchases of up to $110,000.
Under the Congressional Disclosure Act, or the STOCK Act, US lawmakers are required to report investments to Congress. But they are still allowed to oversee or propose legislation on investment-related matters, which many say could create a conflict of interest between their public service and personal wealth.
Collins' ETH purchases come as the token's price has risen more than 11% over the past seven days, from roughly $2,200 to $2,466 at the time of publication on January 3rd. Some experts speculate that ETH may gather momentum in response to the US Securities and Exchange Commission's decision to ban Bitcoin (BTC) as an exchange-traded fund for the first time – an event expected on January 10.
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The disclosure documents show that if Congress does not pass the spending bill by January 19, the US government will shut down nine days before. Previous shutdowns have caused turmoil in markets, including cryptocurrencies, partly due to economic uncertainty.
The Republican Party candidates for the 2024 US presidential election will face off in the first debate of the election season on January 10 in Iowa. Pro-Creto candidate Vivek Ramaswamy, who polled 6 percent in Iowa, will not appear on the debate stage against Florida Gov. Ron DeSantis and Nikki Haley.
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