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Alabama Congressman Barry Moore has filed his PTR recently and declared his crypto purchases. He bought three tokens namely Dogecoin, Cardano and Ether between the period from May and June. He invested at least $5,000 in cryptocurrencies.
Barry Moore, United States Congressman, had recently filed a Periodic Transaction Report (PTR) to declare his crypto investments. The representative from Alabama, Moore, purchased Dogecoin, Cardano and Ether.
According to the filing by him, he bought the three tokens in the period between May and June. Each purchase was worth between $1,001 and $15,000 respectively. However, his crypto value has decreased since he purchased the coins.
Moore is one of the few Congressmen who is publicly known to have purchased cryptocurrencies.
Purchasing cryptos
Moore purchased Cardano on May 10, 11 and 13. The price of ADA was $1.7652, $1.5559 and $2.009 on the days when he purchased the coin. The data was revealed by Bitcoin.com Markets. The cost of cryptocurrency today is 1.4229 USD.
The congressman had also purchased Dogecoin on June 13. The price was $0.3275. Currently, the price is $0.2317. He also purchased ether on May 5 for $4,081. Now, the price of Ether has slumped to $2,370.
He purchased Cardano from the crypto exchange as the token is not available on more mainstream trading platforms with crypto options like Robinhood and Paypal. Moore purchased Dogecoin when it fell when Elon Musk declared himself the Dogefather on SNL. The meme token plummeted from his purchase price of $0.31 to $0.23.
Report filing necessary
Moore had to report his purchases as a part of the disclosure agreement by Congress to end the Transaction Knowledge Act or the STOCK Act. As per the act, the trades should be reported within 30 days after receiving the notification of any transaction required to be reported under section 102 (a)(5)(b). These should be reported a maximum of 45 days after the transaction.
Moore filed the report on July 2, which is considered to be late for all but the dogecoin purchases; there is no evidence if he has those tokens in recent weeks. Being new to Congress this year, Moore has received an extension on the overall report of holdings that members of Congress must produce, which means that any pre-existing holdings are not yet a matter of public record.
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