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US Senator Cynthia Lummis Bought over $100,000 Bitcoin this Summer

Senator Cynthia Lummis, R-Wyo., bought Bitcoin worth between $50,001 to $100,000 on Aug.16, according to a filing on Thursday.

Senator Lummis
Source: lummis.senate.gov/

Sen. Cynthia Lummis, a Republican from Wyoming, revealed a hefty purchase of Bitcoin that added up to $ 100,000 in cryptocurrency to her stash. According to the US Securities and Exchange Commission (SEC) filed the Periodic Transaction Report for Lummis on August 16, between $50,001 and $100,000. According to the filing, the purchase was made through River Financial’s brokerage platform. The Congressional Knowledge Stop Trading Act of 2012 (STOCK Act) requires US senators and officials with incomes greater than $119,550 to disclose certain financial transactions.

This requirement includes “any purchase, sale, or exchange of stocks, bonds, commodity futures, and other securities if the transaction exceeds $1,000.” While the Lummis purchase appeared to have been announced outside of the 5-day reporting period, the senator’s spokesperson told CNBC that the delay was due to “a filing error.”

“When we found out about this, we worked with the ethics committee to fix it,” said a spokesman for the Lummis office. “It was an honest mistake and the problem was resolved without penalty.” This is not the first time that Lummis has made such a mistake, according to CNBC.

In April, it did not include bitcoin in its annual financial disclosure form to the Senate. However, he announced in an amended disclosure that he owned $100,000 in cryptocurrencies, valued at $250,000.

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