Author: Aaron Wood, CoinTelegraph; Compiled by: Baishui, Golden Finance
As the issue of stablecoin regulation heats up in the U.S. Senate, the question of which members of Congress personally invest in cryptocurrencies and cryptocurrency companies has also become increasingly prominent.
On May 19, the Senate voted to pass the GENIUS Act, which will provide a regulatory framework for stablecoins. The bill was passed by 66 votes in favor and 32 against, with 16 Democrats supporting the bill.
The Democratic Party's concerns about corruption and politicians' relationships with cryptocurrency companies have made this bipartisan initiative controversial. After the vote, Colorado Senator Michael Bennett introduced the STABLE GENIUS Act. The bill would prohibit members of Congress from issuing or investing in digital currencies and require them to deposit their cryptocurrencies in a blind trust while in office.
The bill prohibiting members of Congress from investing in the companies they regulate has had little effect. However, lawmakers are still required to disclose a rough estimate of the amount of investment for themselves, their spouses, and their children. Here are 11 U.S. Senators who have invested in cryptocurrency companies.
Tim Sheehy (R)
Tim Sheehy is a newcomer to the Senate who is first in line to secure election in the 2024 cycle. During the campaign, Sheehy contrasted himself with his opponent, former Sen. Jon Tester, saying: "Cryptocurrency represents the future of finance and the internet, as well as hundreds of thousands of American jobs."
Investments: According to a June 2024 filing, Sheehy invested between $1,001 and $15,000 in Intercontinental Exchange, which offers futures contracts on cryptocurrencies.
Steve Daines, Republican
Steve Daines served in the U.S. Senate for 10 years, taking office in 2015. In recent years, he has become a supporter of the cryptocurrency industry, fraternizing with industry heavyweights such as Bitcoin advocate and Strategy CEO Michael Saylor, and receiving the Digital Future Award from the Crypto Innovation Council.
Daines (right) receives a cryptocurrency industry award. Source: Steve Daines
Investments: In a November 2024 filing, Daines reported selling stakes in cryptocurrency-related exchange-traded funds (ETFs).
These ETFs include the Valkyrie Bitcoin and Ethereum Strategy ETF, the Vaneck Bitcoin Strategy ETF, the Proshares Bitcoin Strategy ETF, the Bitwise Crypto Industry Innovators ETF, and the Proshares Bitcoin Strategy ETF.
Jackie Rosen, Democrat
Senator Jackie Rosen is currently serving her second term and was first elected to the Senate in the 2018 midterm elections. Her platform states that blockchain and cryptocurrencies are “ushering in a new era of the digital economy” and that Washington needs to have a solid legal framework in place to keep up with this development.
Investments: According to a July 24 filing, Rosen invested in PayPal. The payments giant first launched its stablecoin in April 2023.
Dan Sullivan, Republican
Senator Dan Sullivan is currently in his second term, having first taken office in January 2015. While he has not been as outspoken about cryptocurrencies and blockchain technology as some of his colleagues, he is a co-sponsor of the GENIUS Act and supports a resolution introduced jointly with the House of Representatives to amend accounting standards for cryptocurrency companies.
Investments: According to an August 2024 filing, Sullivan owns shares of BlackRock, which offers cryptocurrency-focused ETFs.
Markwayne Mullin, Republican
Senator Markwayne Mullin defeated Democrat Kendra Horn in a special election in 2022 and will take office in January 2023. Before taking office, Mullin praised cryptocurrency as a potential retirement investment and said his state could offer favorable terms to Bitcoin miners. During his time in the Senate, he supported the GENIUS program and the repeal of Staff Accounting Bulletin (SAB) No. 121.
Investments: As of August 2024 filings, Mullin owns shares in Intercontinental Exchange and BlackRock, while his wife owns shares in PayPal.
Tommy Tuberville, Republican
Senator Tommy Tuberville is currently serving in the United States Senate and was first elected in 2020. While in office, Tuberville publicly supported cryptocurrencies. In April 2025, he introduced a bill that would allow Americans to include cryptocurrencies in their retirement funds. He also publicly supports the creation of a Bitcoin reserve.
Investments: According to a July 2024 filing, Tuberville invested in PayPal.
Katie Britt, Republican
Senator Katie Britt was first elected to the Senate in the 2022 midterm elections. During her campaign, she accepted donations from donors in the form of cryptocurrency. In 2024, she advocated "getting Gensler out" of the SEC, saying the Biden administration was stifling innovation.
Investments: Britt's husband owns common stock in crypto-friendly payments company Block, according to a July 2024 filing.
Bernie Moreno, Republican
Bernie Moreno is a freshman in the Senate who is looking to secure his seat in the 2024 federal election. During his campaign and while in the Senate, Moreno has called for more favorable regulations for the industry. In January, he supported President Donald Trump’s “day one” nomination of Paul Atkins to serve as chairman of the SEC.
Investments: According to an August 2024 filing, Moreno owns a stake worth $500,000 to $1 million in online trading platform eToro, which offers crypto trading services.
Shelley Capito, Republican
Senator Shelley Capito has served in the U.S. Senate since 2015. While in office, she has expressed concerns that cryptocurrencies could be used for terrorism financing. Her voting record is crypto-friendly; she supports the GENIUS Act and the joint resolution to repeal SAB 121.
Investments: Her husband invested between $15,001 and $50,000 in BlackRock, according to a May 2024 filing.
Dave McCormick, Republican
Senator Dave McCormick, who served as undersecretary of the Treasury for international affairs during President George W. Bush's administration, is preparing for his first term as a senator and will be elected in 2024. During his campaign, McCormick promoted the bitcoin mining industry in his state. Industry insiders such as Coinbase CEO Brian Armstrong have also publicly supported his stance in the cryptocurrency field.
Investment: March 2025 filings show multiple purchases of the Bitwise Bitcoin ETF.
Sheldon Whitehouse, Democrat
Sheldon Whitehouse is the state's senior senator and has served in Congress since 2011. In the past few years, he has expressed concerns about the energy consumption of Bitcoin mining and the possibility that Russia could use cryptocurrency to evade U.S. sanctions. He voted against the GENIUS Act and co-sponsored the Digital Asset Anti-Money Laundering Act of 2023, which the group Stand With Crypto has rated as “very anti-crypto.”
Investments: According to an August 2024 filing, Whitehouse has investments in Tesla, Block, and PayPal. All investments were between $1,001 and $15,000.
This list is not exhaustive; many of the companies the lawmaker has invested in are subject to cryptocurrency price fluctuations and market effects. The list also does not include any members of the House of Representatives, which is also working on similar cryptocurrency regulations.
As cryptocurrencies become more mainstream and potential obstacles to investment in Congress become apparent and ultimately unsuccessful, lawmakers may take a greater interest in investing in cryptocurrencies.
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