In an instance of blatant hypocrisy, Mike Collins claimed to back a congressional stock trading ban while actively buying and selling cryptocurrency. According to recent reporting from American Journal News, Collins falsely claimed there was no corruption because cryptocurrencies were immune from insider trading. In actuality, insider information can still be used to maximize cryptocurrency profits.
“Mike Collins is corrupt and dead wrong on crypto trading,” said American Bridge 21st Century Spokesperson Gus Nathanson. “Either he’s not smart enough to know what he’s doing, or he knows his actions are unethical and he’s scrambling to justify them.”
Read more about Mike Collins’ crypto trading:
- When a voter confronted Collins about this during an April meet-and-greet, Collins said, “I don’t know how you would manipulate crypto. It’d be like trying to manipulate the dollar, the peso or something. But the stock trading, I don’t know how to do it … All I want to know is when people stop doing it. They’re getting insider information.”
- Collins’ characterization is not accurate. While it’s true that cryptocurrencies are sold on digital exchanges rather than the traditional stock market, individuals can still use clandestine information to maximize their profits.
- In 2021, the House Ethics Committee fined North Carolina Rep. Madison Cawthorn $14,000 for promoting a cryptocurrency that he had a sizable stake in.
- Collins’ primary opponent, former football coach Derek Dooley, repeatedly attacked him over his cryptocurrency holdings.
- At the same time, President Donald Trump has come under fire for raking in $1.4 billion from his family’s cryptocurrency business. Trump has endorsed Collins’ campaign.
- Many of the proposed bans on congressional stock trading, including ones that Collins has endorsed, would apply to cryptocurrencies as well.
Published: Jul 8, 2026