Georgia Representative Mike Collins reveals purchases in altcoins including Ski Mask Dog and Ether.

As the 119th session of the United States Congress gets underway, Georgia Representative Mike Collins has disclosed investments in various cryptocurrencies, including Ether and altcoins. The financial disclosure, filed on New Year’s Day, outlines Collins’ purchase of the Ski Mask Dog (SKI) token, launched in May 2024.

Altcoin Investment Disclosed

In a report submitted to the US House of Representatives on 1 January, Collins revealed he had invested between $1,001 and $15,000 in Ski Mask Dog. The transactions, which occurred between 1 December and 3 December, followed the US midterm elections held in November 2024. During this period, the cryptocurrency market saw significant gains, with SKI surging to an all-time high of $0.35 on 5 December before settling at around $0.25.

This is not the first time the congressman has disclosed investments in digital assets. His filings indicate purchases in Ether (ETH), Velodrome (VELO), Aerodrome Finance (AERO), and The Graph (GRT).

A Growing Trend Among Lawmakers

Rep. Collins, a Republican representing Georgia’s 10th congressional district, secured reelection in November 2024 by defeating Democratic candidate Lexy Doherty with over 63% of the vote. While it is unclear if his crypto investments are linked to his victory, Collins has voted in favour of legislation welcomed by the cryptocurrency industry, such as the Financial Innovation and Technology for the 21st Century (FIT21) Act.

He has joined the ranks of other lawmakers, including Texas Senator Ted Cruz and Wyoming Senator Cynthia Lummis, in disclosing digital asset investments. However, Collins has not made cryptocurrency a central focus of his political agenda.

The STOCK Act and Calls for Reform

Under the Stop Trading on Congressional Knowledge (STOCK) Act, US lawmakers are required to disclose purchases or sales of stocks and cryptocurrencies. Collins appears to be the first member of Congress to file such a report in 2025.

Ski Mask Dog, the token disclosed by Collins, remained under $0.01 since its launch in May 2024 but experienced a sharp surge in value post-election. Despite its recent popularity, the token’s price has since stabilised.

Criticism of existing rules for disclosing investments persists, with many lawmakers arguing that trading in stocks or cryptocurrencies while in office poses a potential conflict of interest. In July 2024, a bipartisan group of senators urged Congress to amend the STOCK Act to prohibit such trading. It remains to be seen whether the incoming session will consider legislation addressing these concerns.

Future of Crypto and Congressional Policy

As the 119th session unfolds, Collins has expressed intentions to “move fast” on policy matters. His actions and disclosures highlight a broader conversation around cryptocurrency investments among lawmakers and the potential need for stricter regulations.

With cryptocurrency markets continuing to evolve, the focus on how elected officials manage their financial dealings is likely to intensify, shaping future debates in Congress.