Republican Senator David McCormick(David McCormick) purchased at least $680,000 worth of Bitwise Bitcoin ETF (BITB) from 2025 onwards, with the most recent two purchases on November 26 and 28, each ranging from $50,000 to $100,000. At that time, Bitcoin’s trading price was between $86,316 and $92,969. His total purchases of BITB this year may have reached up to $1.6 million, most of which occurred when Bitcoin’s price was between $80,000 and $90,000. As a member of the Senate Banking Committee’s Digital Assets Subcommittee, he actively trades Bitcoin ETFs. Coupled with his pro-cryptocurrency stance and the endorsement from Coinbase CEO Brian Armstrong(Brian Armstrong), this could raise questions about conflicts of interest regarding stock and cryptocurrency trading by members of Congress.
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Senator plans to purchase up to $1.6 million worth of Bitcoin ETF shares in 2025—potential conflicts of interest may exist.
Republican Senator David McCormick(David McCormick) purchased at least $680,000 worth of Bitwise Bitcoin ETF (BITB) from 2025 onwards, with the most recent two purchases on November 26 and 28, each ranging from $50,000 to $100,000. At that time, Bitcoin’s trading price was between $86,316 and $92,969. His total purchases of BITB this year may have reached up to $1.6 million, most of which occurred when Bitcoin’s price was between $80,000 and $90,000. As a member of the Senate Banking Committee’s Digital Assets Subcommittee, he actively trades Bitcoin ETFs. Coupled with his pro-cryptocurrency stance and the endorsement from Coinbase CEO Brian Armstrong(Brian Armstrong), this could raise questions about conflicts of interest regarding stock and cryptocurrency trading by members of Congress.