Grayscale News: US Senator Patrick Toomey from Pennsylvania announced that Grayscale has invested in Bitcoin and Ethereum Trusts. Also, shortly after this announcement, fellow congressman US Representative Barry Moore announced that he has invested in Dogecoin (DOGE), Ethereum (ETH), and Cardano (ADA).
Senator Pat Toomey’s crypto investments
Many US lawmakers are investing in cryptos. According to the Periodic Trading Report released on July 7, Toomey announced two personal crypto investments. One investment in Grayscale Bitcoin Trust and one investment in Grayscale Ethereum Trust (ETHE) costs between $1,000 and $15,000 each.
Moreover, the Senator’s investment value has declined since their acquisition. He invested in the Grayscale Bitcoin Trust (GBTC) when the price was around $33.23 on June 15. Later, the price dropped to $27.65 at the time of writing. As for his investment in the Grayscale Ethereum Trust, the price was $24.45 on June 14 when purchased, but has dropped to $20.41 at the time of writing.
Recently, Toomey expressed his concerns about crypto regulation. Before Grayscale invested in Bitcoin and Ethereum Trusts, the Senator wrote a letter to Treasury Secretary Janet Yellen urging the Treasury Department to make substantial revisions to its crypto offering by the Financial Crimes Enforcement Network (FinCEN).
According to Yellen’s acceptance of current proposals, she said:
Financial technology (fintech) will have a detrimental effect on Americans’ basic privacy and efforts to combat illegal activity.
He also expressed concern about the FATF’s guidance. Moreover, the congressman from Pennsylvania is not the only US senator with bitcoin-related investment. Moreover, outspoken pro-Bitcoin US Senator Cynthia Lummis from Wyoming owns about five Bitcoins. He encouraged people to buy and hold BTC.
Recently, US Representative Barry Moore from Alabama also announced his investments in cryptocurrencies. The representative said that he bought DOGE, ETH and ADA.