{"id":81732,"date":"2024-06-18T08:32:08","date_gmt":"2024-06-18T12:32:08","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=81732"},"modified":"2024-06-18T08:32:12","modified_gmt":"2024-06-18T12:32:12","slug":"us-politician-places-bold-bet-on-cryptocurrency","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/us-politician-places-bold-bet-on-cryptocurrency\/","title":{"rendered":"US Politician Places Bold Bet on Cryptocurrency"},"content":{"rendered":"\n

US Representative Michael Collins disclosed a purchase of Velodrome (VELO) after revealing his Ethereum (ETH) investments<\/a>.<\/p>\n\n\n\n

\"US
US Politician Places Bold Bet on Cryptocurrency<\/figcaption><\/figure>\n\n\n\n

A US politician has made another intriguing crypto bet, shortly after he captivated the cryptocurrency community<\/a> with a disclosure of his Ethereum (ETH) purchases prior to the United States Securities and Exchange Commission (SEC) sanctioning spot Ethereum exchange-traded funds (ETFs).<\/p>\n\n\n\n

Michael Collins, the US Representative for Georgia's 10th congressional district, has recently disclosed his acquisition of Velodrome (VELO), a crypto asset with a market capitalization of less than $100 million, as per the data provided by investment research firm Quiver Quantitative on June 17.<\/p>\n\n\n\n

\n

BREAKING: Representative Mike Collins just disclosed a purchase of a cryptocurrency called Velodrome.

The coin appears to have a market cap of less than $100M.

This is the first time we have ever seen a politician trade it. pic.twitter.com\/lydptNO5Bq\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/p>— Quiver Quantitative (@QuiverQuant) June 17, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

In particular, on May 17, Collins acquired a token from Velodrome Finance, an automated market maker (AMM) that serves as the central trading and liquidity center on the Optimism Network (OP).<\/p>\n\n\n\n

The company's objective is to evolve into the next iteration of the Solidly Exchange model, which was developed by Andrew Cronje. The purchase price ranged from $1,000 to $15,000.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Mike Collins disclosed in January 2024 an investment of up to $65,000 in Ethereum on two separate occasions. He purchased between $1,001 and $15,000 on January 3 and between $15,001 and $50,000 on January 8, coinciding with the initiation of the spot Ethereum ETF rumors.<\/p>\n\n\n\n

The data shared by the markets analytics platform unusual_whales on January 10 indicates that Collins had purchased this crypto asset three times in 2023, on October 9, November 5, and December 28, in sales totaling $75,000, in addition to his January 2024 purchases.<\/p>\n\n\n\n

At the time of publication, the Velodrome Finance token<\/use><\/svg><\/span><\/a> was trading at $0.105, representing a 12.24% increase in the past 24 hours and a 1.44% increase over the previous seven days. However, it was down 24.45% on its monthly chart, as per the data retrieved on June 18.<\/p>\n","protected":false},"excerpt":{"rendered":"

US Representative Michael Collins disclosed a purchase of Velodrome (VELO) after revealing his Ethereum (ETH) investments. A US politician has made another intriguing crypto bet, shortly after he captivated the cryptocurrency community with a disclosure of his Ethereum (ETH) purchases prior to the United States Securities and Exchange Commission (SEC) sanctioning spot Ethereum exchange-traded funds […]<\/p>\n","protected":false},"author":36,"featured_media":81735,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[7711,20073],"class_list":["post-81732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cryptocurrency","tag-us-politician"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/06\/AP22169661772676-e1709613611262.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/81732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=81732"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/81732\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/81735"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=81732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=81732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=81732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}