Crypto Profits and Suspicious Trades Tarnish Collins' Senate Bid
Representative Mike Collins, a Republican running for the U.S. Senate in Georgia, has made significant profits from cryptocurrency trades that some have questioned as suspiciously timed.
Collins' personal finance disclosures show he earned up to $745,000 in crypto transactions since entering office in 2023, with his net worth increasing by an estimated $2.5 million during the same period.
Some of Collins' trades appear to have been made just before Congress passed or considered legislation that would impact the value of the assets he was trading.
For example, on April 30, 2025, Collins purchased Ether at a price of $1,794. The next day, the GENIUS Act, which created federal rules for stablecoins, was introduced in the Senate, and Ether's value surged to $2,584.
A similar pattern emerged when Collins bought Ski Mask Dog, a memecoin, several times between September 10 and November 29, 2025. After Unusual Whales flagged the purchases on December 3, 2025, Ski Mask Dog's trade volume skyrocketed by 2,606 percent.
Collins has denied any impropriety in his crypto trades, but critics point to the House Ethics Committee fining North Carolina Rep. Madison Cawthorn $14,000 in 2021 for engaging in similar activities.