Senator Pat Toomey, who recently urged it less burdensome cryptocurrency regulations, announced investments in Bitcoin and Ethereum.
The highest-ranking member of the Senate Banking Committee, the Pennsylvania Republican invested up to $ 30,000 in total
Grayscale Ethereum Trust
(Ticker: ETHE) and
Grayscale Bitcoin Trust
(CONDITIONS). According to a disclosure filed by Toomey On Wednesday, at the Senate Public Records Bureau on June 14, he invested between $ 1,001 and $ 15,000 in each of the trusts.
On June 10, the Senator wrote to Treasury Secretary Janet Yellen Express concern about the recent proposals Regulate cryptocurrency transactions. Toomey noted that the proposals “would have an adverse impact on financial technology, basic American privacy, and efforts to combat illegal activity.” He called for “significant revisions”.
Toomey’s office did not immediately respond to requests for comment. It wasn’t immediately clear whether Toomey made the investments himself or whether they were made by an outside advisor.
Toomey’s cryptocurrency investments are its first in history; its 2019 annual financial report, the last available, does not show any crypto holdings.
(FB) Cryptocurrency plans.
Grayscale states on its website that the Ethereum Trust has Soaring 860% in the past 12 months while the Bitcoin Trust did increased by 260% In these times. The single asset products were developed to track the market prices of Ethereum or Bitcoin.
Toomey said last year that he has no plans to run for re-election in 2022 and fight for his seat in Pennsylvania.
Inside Scoop is a regular feature by Barron that covers stock transactions by company executives and board members – so-called insiders – as well as major shareholders, politicians and other celebrities. Because of their insider status, these investors are required to disclose stock transactions to the Securities and Exchange Commission or other regulatory authorities.
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