US: Hawaii Representative Reveals Crypto Holdings of ETH, LTC After Rule Change

Published at: Aug. 23, 2018

Hawaii’s Democratic Representative Tulsi Gabbard has joined the list of U.S. politicians who have invested in cryptocurrency, having disclosed purchases of Litecoin (LTC) and Ethereum (ETH), Bloomberg reports Thursday, August 23.

Citing an income filing from August 14, the publication notes Gabbard purchased between $1,001 and $15,000 worth of the two assets at some point in December 2017.

At the time, both were highly volatile, rising steeply towards the end of the month after Bitcoin (BTC) hit all-time highs around $20,000.

Depending on the exact date of the purchases, Gabbard could have secured ETH and LTC for as little as $444 and $87 or as much as $814 and $344 respectively, according to data from CoinMarketCap.

The value of both has since sunk below the December minimums as part of an overall cryptocurrency market slump which has continued throughout 2018.

In June of this year, the United States Office of Government Ethics (OGE) had announced in a notice that politicians must disclose cryptocurrency holdings in filings as part of “property held… for investment or the production of income.”

According to the new guidance, those that file are “required to identify the name of the virtual currency and, if held through an exchange or platform, the exchange or platform on which it is held,” Cointelegraph quoted.

At the beginning of August, chair of the Judiciary Committee of the U.S. House of Representatives and Congressman Bob Goodlatte had also reported that he owns between $17,000 and $80,000 in digital currency in his annual Financial Disclosure Statement.

Cryptocurrency acceptance meanwhile remains a perennial issue among both current and prospective US politicians, with some candidates announcing their intention to take crypto campaign donations despite the unclear legal framework.

Tags
Related Posts
PayPal to start letting US customers pay in Bitcoin at global merchants
Online payments giant PayPal will start to accept cryptocurrency as a medium of exchange at its millions of global merchants, the firm’s president and CEO revealed on Tuesday ahead of a formal announcement. News broke regarding PayPal’s rumored decision to accept cryptocurrencies early on March 30. Later in the day, the firm’s CEO, Dan Schulman, confirmed to Reuters that the rumors were true and that an official statement would be released imminently. The new system is expected to feature a crypto checkout service where users can pay for goods and services at approved vendors using their stored coins. The system …
Adoption / March 30, 2021
Grayscale’s Ethereum Security Now Listed on OTC Markets
Grayscale’s Ethereum-based security, Grayscale Ethereum Trust (ETHE), is available for trading on OTC Markets, according to an official blog post from Grayscale Investments on June 20. According to the post, ETHE is “an open-ended trust that holds Ethereum.” As further noted, this is a means of investing in Ethereum without having to actually hold the cryptocurrency. This means that the “first U.S.-based publicly quoted security solely invested in and deriving value from the price of Ethereum is available.” Grayscale’s Director of Investments and Research Matt Beck commented on how investing in Ethereum can help investors build a profitable portfolio, saying: …
United States / June 21, 2019
Bitcoin Falls Short of Breaking $7,000, Other Altcoins See Slight Losses
August 6: Bitcoin (BTC) is making several attempts at breaking back above the $7,000 mark, staking its recovery after a sharp market tumble this weekend. Many major cryptocurrencies continue to see minor losses, as data from Coin360 shows. Market visualization from Coin360 Bitcoin (BTC) is trading around $6,974 at press time, down 1.17 percent on the day. The leading cryptocurrency has made several attempts to break above the $7,000 threshold, trading as high as $7,127 in early trading hours. These fleeting spikes failed to hold as of press time however, and the coin’s losses on the week now tally above …
Bitcoin / Aug. 6, 2018
Bitcoin Dips Below $7,500 аs Crypto Markets See Second Day of Losses
August 1: Crypto assets have seen a second day of losses, with Bitcoin (BTC) now well below the $8,000 psychological price point and most of the major crypto assets in the red, according to data from Coin360. Market visualization from Coin360 Bitcoin (BTC) is trading around $7,490 to press time, having lost almost 3 percent on the day. Since the coin’s July 25 peak at $8,431, the leading cryptocurrency dipped down below $8,000 yesterday for the third time this week. The coin saw another sharp drop this morning, before trading sideways. Bitcoin’s 7-day price chart. Source: Cointelegraph Bitcoin Price Index …
Bitcoin / Aug. 1, 2018
Robinhood’s Zero-Fee Crypto Trading Platform Adds Support for Litecoin, Bitcoin Cash
Financial services mobile app Robinhood has added support for Litecoin (LTC) and Bitcoin Cash (BCH) on its Robinhood Crypto Platform, according to a July 12 blog post. Robinhood’s blog post notes that they are planning to “further expand our coin offerings and add support for coin transfers,” writing that the entire Robinhood platform has a reach of more than 5 million people. Robinhood launched its zero-free crypto trading platform in February, originally supporting Bitcoin (BTC) and Ethereum (ETH), with trading available for U.S. residents in California, Massachusetts, Missouri, Montana, and New Hampshire. The app, which can be now be used …
Bitcoin / July 12, 2018