U.S. politician’s historic XRP bet pays off with 40% gain
Sitting members of the U.S. House of Representatives and Senate have an informational edge over the public. Worse still, they regulate the very industries they so often invest in — and they tend to secure impressive returns for themselves in the process. The cryptocurrency space, however, is much less regulated on the whole — and politicians on Capitol Hill have a much smaller advantage when it comes to this asset class. But, with the outsized returns that cryptocurrencies have provided, it was only a matter of time before lawmakers began to dip their toes in the water, so to speak. In many ways, 2024 was a year of firsts — we saw the first congressional meme coin purchase from Georgia representative Michael Collins, who purchased Ski Mask Dog (SKI) in early December, as well as the first congressional purchase of XRP — which was executed by Pennsylvanian representative Guy Reschenthaler on December 11. ...