Cryptocurrency Trades by Georgia Rep. Mike Collins Raise Eyebrows
Rep. Mike Collins of Georgia has gained attention for his profitable cryptocurrency trades, sparking discussions about potential insider information use. Collins, currently vying for a U.S. Senate position, has reportedly conducted crypto transactions totaling up to $745,000 since 2023, contributing to an estimated $2.5 million increase in his net worth.
Financial disclosures indicate some of these trades coincided with legislative actions in Congress that could affect cryptocurrency values. A notable instance occurred last year when Collins executed lucrative crypto trades around the time Congress deliberated the GENIUS Act. This legislation introduced the first federal regulations for stablecoins, a cryptocurrency type.
The introduction of such regulations was expected to influence the asset values that Collins traded. It mirrors scenarios where a lawmaker might purchase stocks in a sector before proposing legislation favorable to that industry. In traditional finance, such actions are scrutinized under insider trading laws, but for cryptocurrencies, they often fall under wire or commodities fraud.
Records show that Collins acquired Ether, a cryptocurrency on the Ethereum blockchain, on April 30, 2025, when its price was $1,794. Following the public introduction of the GENIUS Act in the Senate the next day, Ether’s value surged to $2,584. The bill’s introduction had not been publicly announced beforehand. While Ether is not a stablecoin, the GENIUS Act was perceived as beneficial to the broader crypto market.
In another instance, Collins bought Ether on July 8, 2025, at $2,616. Shortly after, the GENIUS Act passed the House, and Ether’s value climbed to $3,673, marking a 40% increase.
A similar pattern emerged when Collins purchased the memecoin Ski Mask Dog. Memecoins are cryptocurrencies known for their low intrinsic value, often rising in price due to celebrity endorsements or social media hype. Critics argue memecoins are designed for pump-and-dump schemes, where prices are inflated artificially before major stakeholders offload their holdings.
Between September 10 and November 29, 2025, Collins invested in Ski Mask Dog. The trading activity was highlighted by the X account Unusual Whales, which monitors unusual market activity, in a post on December 3, 2025. Collins responded with an image of Pepe the Frog, an internet meme sometimes representing a savvy demeanor, but also associated with far-right symbolism.
Following the Unusual Whales post, Ski Mask Dog’s popularity soared, with its trade volume skyrocketing from $1,384,313 to $37,468,161, a 2,606% increase. The coin has since featured Collins in its promotional campaigns, suggesting him as a potential presidential candidate for 2028.
In a parallel case, North Carolina Rep. Madison Cawthorn faced a $14,000 fine from the House Ethics Committee in 2021 for similar activities, involving investments in the Let’s Go Brandon memecoin without proper disclosure.
Collins has consistently denied any misconduct concerning his crypto trades, and there is no indication of any formal investigations or accusations of criminal activity against him.
His opponent, incumbent Sen. Jon Ossoff, is focusing on political corruption and self-enrichment issues as part of his reelection campaign for November. According to a July AARP poll, Ossoff holds a significant lead over Collins, though this gap is anticipated to reduce as the election nears.
