One of the more unusual trades by a member of Congress in 2024 was Rep. Mike Collins (R-Ga.) buying meme cryptocurrency Ski Mask Dog Coin (CRYPTO:SKI), which led to the crypto soaring in value and later hitting all-time highs shortly after the disclosure.
A new filing shows Collins bought more after his last disclosure.
What Happened: The trading activity of members of Congress continues to be closely followed by investors as stock purchases can come ahead of key information and potential gains.
While members of Congress likely don’t have the same alleged insider information when it comes to cryptocurrency, trading activity in the sector warrants close monitoring, especially when it involves a meme cryptocurrency valued at around $225 million.
On Jan. 1, Collins disclosed that he purchased another $1,000 to $15,000 worth of Ski Mask Dog, adding to his previous disclosures in early December that he bought $2,000 to $30,000 worth of the meme coin.
The transaction, which can be viewed on Benzinga’s Government Trades page, came on Dec. 3. That means that the same day that Collins’ previous disclosed purchases began hitting the news, the Congressman was buying more of the coin.
Collins’ latest trade was once again marked as unusual by several prominent social media accounts that track congressional trading activity.
“BREAKING: US politician Michael Collins has yet again bought crypto. He bought up to $15,000 of SKI MASK DOG, $SKI, crypto. Unusual,” Unusual …Full story available on Benzinga.com
