Crypto Parliamentarian Stacks, Anti-Crypto Congressman Stacks Get $ 100,000 Of
News of two opposing approaches to cryptocurrencies from members of the U.S. Congress was released this week.
Alabama Congressman Barry Moore has deposited cryptocurrencies like Ethereum (ETH), Cardano (ADA), and Dogecoin (DOGE) in the past two months.
California anti-crypto Congressman Brad Sherman – who said the goal was to shut down crypto – is said to have received more than $ 100,000 in campaign donations from financial firms.
According to the July 2 transaction disclosure filed with the Secretary of the House of Representatives, Moore bought ETH on May 5, he bought ADA on May 10, 11 and 13, and bought DOGE on June 13.
The profile that Ethereum misspelled as “Etherium” and the cryptocurrency as “Cryto” doesn’t indicate the exact amount Moore invested, but rather offers a range of $ 1,001 to $ 15,000 per purchase.
The maximum amount Moore could have spent is $ 75,000, and he may have been forced to take a Hodl approach as all of his investments took a hit amid the downturn in money.
Ethereum was trading at around $ 3,400 on May 5 and has since fallen 32% to $ 2,300 at press time, according to data from CoinGecko.
The Republican Congressman’s duties include the Agriculture Committee and Veterans Affairs Committee, and the 54-year-old has not publicly voiced his opinion on the utility bill. But actions speak louder than words.
Other pro-crypto Republicans include Senator Cynthia Lummis, who last month advocated the use of Bitcoin as part of a retirement plan diversification strategy.
Connected: ADA, DOGE overtake BTC as the most popular crypto for US eToro users
California Democrat Representative Brad Sherman is one of the most vocal anti-crypto members in Congress who has historically called for a cryptocurrency ban and recently stated that buying lottery tickets makes more sense than investing in cryptocurrencies.
“Cryptocurrency has the political backing of ‘patriotic’ anarchists looking for ways to evade taxes,” he said, adding, “I hope we close it.”
So will you “We must keep up with China when it comes to restricting citizens’ freedom”? HTTPS: //t.co/claRw8D92b
– Cameron (@BlevCam) June 30, 2021
A recent Foundation for Economic Education article highlights data from OpenSecrets.org showing eight financial firms were among Sherman’s top 20 donors to his 2020 campaign committee, including Capital Group Companies with $ 18,400, Blackstone Corporation with $ 16,800, BlackRock Inc for $ 11,250; and the American Bankers Association for $ 10,000. Do what you will do.