Texas Senator Ted Cruz has revealed that he purchased up to $100,000 worth of Bitcoin through the financial services firm River Financial. According to an August 13 disclosure filing with the U.S. Senate, Cruz disclosed that he acquired between $50,001 and $100,000 worth of Bitcoin as part of his personal investments in 2023. This disclosure came just one day after the Texas Blockchain Council, an advocacy group, endorsed Cruz for his 2024 reelection campaign, emphasizing his supportive stance on cryptocurrency.
In addition to this recent purchase, Cruz had previously reported buying Bitcoin in 2022, with the transaction amounting to between $15,001 and $50,000. However, his 2023 disclosure did not mention the three Bitcoin miners he claimed to have purchased in May, which are expected to be officially reported in 2025.
Cruz is not the only U.S. lawmaker with cryptocurrency holdings. Other members of Congress, including Senator Cynthia Lummis, have reported owning crypto or stakes in funds that are exposed to digital assets like Grayscale. This has raised concerns about potential conflicts of interest, as lawmakers may pass legislation that could impact the cryptocurrency industry while holding related assets. Some legislators have even called for a complete ban on stock trading by members of Congress to avoid such conflicts.
Read more: Franklin Templeton Submits S-1 for Launch of New Crypto Index ETF
Cruz, who has been a U.S. Senator since 2013, has actively spoken about Bitcoin and the benefits that crypto mining facilities could bring to Texas’ energy grid. In the upcoming November election, he is set to face Democrat Colin Allred, Libertarian Ted Brown and write-in candidate Tracy Andrus.
This disclosure comes at a time when crypto and digital assets are becoming more prominent in U.S. political discourse. The 2024 election season sees various candidates, including Republican presidential nominee Donald Trump, making cryptocurrency a key issue in their campaigns. Interest groups are also increasingly involved in congressional races, supporting pro-crypto candidates. The majority of state primaries for the 2024 election are wrapping up, with early voting set to begin in Pennsylvania in September.
Cre: cointelegraph.
I’m Jessi Lee, currently living in Singapore. I am currently working as a trader for AZCoin company, with 5 years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
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