As the regulatory issues surrounding stablecoins heat up in the U.S. Senate, the personal investments of senators in cryptocurrency and related businesses have also become a focal topic.
On May 19, the Senate voted to end the debate and advance the "GENIUS Act," which will establish a regulatory framework for stablecoins. The bill passed with 66 votes in favor and 32 against, with 16 Democratic senators voting in favor.
This bipartisan effort has sparked controversy due to concerns among Democrats about political corruption and the relationships between politicians and cryptocurrency companies. After the vote, Colorado Senator Michael Bennet immediately introduced the "STABLE GENIUS Act," which would prohibit members of Congress from issuing or investing in digital currencies and require them to place their crypto assets in blind trust management during their tenure.
Although legislative attempts to prevent members of Congress from investing in the companies they regulate have had little effect, the law still requires lawmakers to disclose the general status of investments made by themselves, their spouses, and their children. Here are 11 U.S. senators who have invested in crypto companies.
Tim Sheehy, Republican
Tim Sheehy is a new member of the Senate, winning his first election in 2024. During his campaign, Sheehy contrasted sharply with his opponent, former Senator Jon Tester, stating, "Cryptocurrency represents the future of finance and the internet, and will create thousands of jobs for America."
Source: U.S. Senate
Investment: According to a filing in June 2024, Sheehy holds an investment between $1,001 and $15,000 in the Intercontinental Exchange, which offers cryptocurrency futures contracts.
Steve Daines, Republican
Steve Daines has served in the U.S. Senate for 10 years, having taken office in 2015. In recent years, he has become a strong advocate for the crypto industry, establishing close ties with industry leaders such as Bitcoin (BTC) evangelist and Strategy CEO Michael Saylor, and receiving the "Digital Future Award" from the Crypto Innovation Committee.
Daines (right) receiving an award from the crypto industry. Source: Steve Daines
Investment: In a filing from November 2024, Daines reported selling shares in several cryptocurrency-related exchange-traded funds (ETFs).
These include the Valkyrie Bitcoin and Ethereum Strategy ETF, Vaneck Bitcoin Strategy ETF, Proshares Bitcoin Strategy ETF, Bitwise Crypto Industry Innovators ETF, and Proshares Bitcoin Strategy ETF.
Jacky Rosen, Democrat
Senator Jacky Rosen is currently serving her second term, having first been elected in the 2018 midterm elections. Her policy positions indicate that blockchain and cryptocurrency are "leading the digital economy into a new era," emphasizing the need for Washington to establish a comprehensive legal framework to keep pace with developments.
Source: U.S. Senate
Investment: According to a filing on July 24, Rosen holds an investment in PayPal, which launched its stablecoin in April 2023.
Dan Sullivan, Republican
Senator Dan Sullivan is currently serving his second term, having first taken office in January 2015. Although he has not been as vocal about cryptocurrency and blockchain technology as some of his colleagues, he co-sponsored the GENIUS Act and supported a resolution with the House aimed at reforming accounting standards for cryptocurrency companies.
Source: U.S. Senate
Investment: According to a filing from August 2024, Sullivan holds shares in BlackRock, which offers cryptocurrency-focused ETF products.
Markwayne Mullin, Republican
Senator Markwayne Mullin took office in January 2023 after defeating Democratic candidate Kendra Horn in a special election. Before taking office, Mullin praised the potential of cryptocurrency as a retirement investment and stated that his state could offer favorable policies for Bitcoin miners. During his time in the Senate, he has actively supported the GENIUS Act and proposals to repeal Accounting Bulletin (SAB) No. 121.
Source: U.S. Senate
Investment: According to a filing from August 2024, Mullin holds shares in the Intercontinental Exchange and BlackRock, while his spouse holds shares in PayPal.
Tommy Tuberville, Republican
Senator Tommy Tuberville is currently serving his first term in the U.S. Senate, having been elected in 2020. During his tenure, Tuberville has clearly expressed support for cryptocurrency. In April 2025, he proposed a bill allowing Americans to allocate cryptocurrency in retirement funds. He has also publicly supported establishing a Bitcoin reserve system.
Source: Tommy Tuberville
Investment: According to a filing from July 2024, Tuberville has an investment position in PayPal.
Katie Britt, Republican
Senator Katie Britt was first elected to the Senate in the 2022 midterm elections. During her campaign, she accepted political donations in the form of cryptocurrency. In 2024, she publicly called for "Gensler to go" from the Securities and Exchange Commission and criticized the Biden administration for hindering innovation.
Source: U.S. Senate
Investment: According to a filing from July 2024, Britt's husband holds common stock in the crypto-friendly payment company Block.
Bernie Moreno, Republican
Bernie Moreno is a new member of the Senate, having won his seat in the 2024 federal elections. Throughout his campaign and Senate tenure, Moreno has called for a more favorable regulatory framework for the crypto industry. In January of this year, he supported President Donald Trump's decision to nominate Paul Atkins as SEC chairman on "day one" of his administration.
Source: U.S. Senate
Investment: According to a filing from August 2024, Moreno holds shares valued between $500,000 and $1 million on the online trading platform eToro, which offers cryptocurrency trading services.
Shelly Capito, Republican
Senator Shelly Capito has served in the Senate since 2015. During her tenure, she has expressed concerns about the potential use of cryptocurrency for terrorist financing. However, her voting record shows support for the crypto industry; she voted in favor of the GENIUS Act and the resolution to repeal SAB 121.
Source: U.S. Congress
Investment: According to a filing from May 2024, her husband has an investment in BlackRock ranging from $15,001 to $50,000.
Dave McCormick, Republican
Senator Dave McCormick previously served as Deputy Assistant Secretary for International Affairs at the Treasury Department under President George W. Bush and is a first-time senator, elected in 2024. During his campaign, McCormick strongly supported the Bitcoin mining industry in his state. Industry figures, including Coinbase CEO Brian Armstrong, have also publicly supported his stance on cryptocurrency.
Source: U.S. Congress
Investment: A filing from March 2025 shows he purchased multiple Bitwise Bitcoin ETFs.
Sheldon Whitehouse, Democrat
Sheldon Whitehouse is the senior senator from the state, having served in Congress since 2011. In recent years, he has expressed concerns about the energy consumption of Bitcoin mining and worries that Russia may use cryptocurrency to evade U.S. sanctions. He voted against the GENIUS Act and co-sponsored the 2023 "Digital Asset Anti-Money Laundering Act," which was rated "very anti-crypto" by Stand With Crypto.
Source: U.S. Congress
Investment: According to a filing from August 2024, Whitehouse has investments in Tesla, Block, and PayPal, with all investment amounts between $1,001 and $15,000.
This list is not exhaustive; many members of Congress have investments in companies affected by cryptocurrency price fluctuations and market influences. Additionally, the list does not include House members, who are also working on cryptocurrency regulatory legislation.
As cryptocurrency increasingly becomes mainstream, and various proposals to restrict congressional members' investments continue to face setbacks, lawmakers may show greater interest in investing in cryptocurrency.
Related: South Korea Tightens Cryptocurrency Rules Ahead of Institutional Market Entry
Original: Which Senators Invest in Cryptocurrency? 11 Legislators Hold Blockchain-Related Investments
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