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Pro-Crypto Senator Lummis Discloses Bitcoin Purchase Worth Up to $100K
Lummis executed her latest purchase on Aug. 16 from the brokerage firm River Financial, according to a filing on Thursday.
Updated May 11, 2023, 7:06 p.m. Published Oct 8, 2021, 1:24 a.m.
U.S. Sen. Cynthia Lummis (R-Wyo.) disclosed she bought bitcoin worth $50,001-$100,000, according to a Periodic Transaction Report filed Thursday.
Lummis, who has been buying bitcoin since 2013, executed her latest purchase on Aug. 16 via the brokerage platform River Financial. CNBC first reported the news.
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Under the Stop Trading on Congressional Knowledge Act of 2012 (STOCK Act) senators and senior staff with earnings above $119,554 are required to disclose certain financial transactions. Part of the requirements means they must report any purchase, sale, or exchange of any stock, bond, commodities future and other securities on transactions above $1,000.
The senator previously served eight years as Wyoming’s state treasurer and told CoinDesk last year that during her time as treasurer she had always been looking for “something that was a good store of value.” Her son-in-law and his friends helped educate the senator about bitcoin’s potential as a store of value, she said, prompting her to jump on the bandwagon when the crypto was trading for around $320.
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While a bitcoin advocate, Lummis slammed stablecoins during a speech on the Senate floor last week, saying they “must be 100% backed by cash ... and this should be audited regularly” expressing her concerns that cryptos pegged 1:1 to other sovereign fiat currencies lacked transparency.
Read more: Janet Yellen Has Been Lobbying Against Wyden-Lummis-Toomey Crypto Amendment: Report
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
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Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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