Representative Mike Collins, who has previously made inroads into meme cryptocurrencies, has returned with a new round of crypto activity.
According to a financial disclosure filed on June 5, Collins reported five digital asset transactions, each valued between $1,001 and $15,000. Notably, one was a Sui (SUI) purchase on June 3, just two days before the filing.
However, the most curious trade involved the meme coin Ski Mask Dog (SKI). Collins bought SKI on May 5 and sold it three days later, on May 8, within the same value range.
But rather than walk away, he doubled down, buying more SKI on May 9 and May 12. None of these trades were disclosed until June.
This transaction emerged when SKI faced increased volatility, gaining by about 1.3% in the past month, trading at $0.05623 as of press time.
Mike Collins’ other transactions
In addition to meme coins, Collins invested in The Graph (GRT), a more established crypto asset, purchasing between $1,001 and $15,000 on May 9.
While there’s no direct evidence of misconduct, the timing and nature of Collins’ trades remain questionable.
Most lawmakers who report crypto activity tend to stick to mainstream assets like Bitcoin (BTC) or Ethereum (ETH). In contrast, Collins has shown a consistent appetite for meme coins, which are known to be more volatile with no solid underlying fundamentals.
Notably, this isn’t his first brush with controversy around meme coins for the lawmaker. In December, he disclosed three crypto trades made on December 1 and 2, including two SKI purchases valued between $1,001 and $15,000 each.
At the same time, Collins’ past trades have had varied outcomes. In July 2024, Finbold reported that his $50,000 investment in Aerodrome Finance (AERO) netted a $38,000 profit in just two weeks. However, he also faced notable losses from his Velodrome Finance (VELO) position.
