In recent months, US House of Representatives from Alabama Barry Moore has acquired assets in Dogecoin (DOGE), Ethereum (ETH) and Cardano (ADA), according to his report on the disclosure of trading operations.
As Crypto-Auditor discovered, according to a document filed on July 2, 2021, the congressman invested in Ethereum on May 5, followed by Cardano purchases on the 10th, 11th and 13th. Moore acquired Dogecoin on June 13.
The report did not disclose the purchase amounts, but they all range from $ 1001 to $ 15,000.
The Block suggested that the politician had to use a cryptocurrency exchange because Cardano is not available for purchase through Robinhood or PayPal.
On the day Moore bought Ethereum, the asset was worth about $3000, and on May 12, the price reached a historic high at levels above $ 4350. However, at the time of writing, the coin is being traded near the $2380 level.
The congressman also acquired Cardano in a growing market—the cryptocurrency quotes hit a record high of $2.45 on May 16 (according to CoinGecko). The price on the days when the asset was purchased by the politician ranged from $1.65 to $1.9. At the time of writing, the cryptocurrency rate is $1.44.
The exception was Dogecoin, in which the politician invested at a falling price. On the day of purchase, the coin was trading at about $0.31, and by June 22, the rate fell to $ 0.17. Since then, quotes have partially recovered, and the meme cryptocurrency is being traded around the $0.23 level.
Moore’s report is part of the disclosure requirements of the Congress Knowledge Trafficking End Act. It is not known whether the politician continues to hold digital assets, as he is obliged to report disclosed transactions no later than 45 days after their completion.
Crypto-Auditor recalls that SEC Chairman Gary Gensler called on Congress to develop clear rules for regulating the crypto industry and proposed to jointly strengthen the supervision of bitcoin exchanges.