Mike Collins

Topline

Rep. Mike Collins, R-Ga., who secured the state’s Republican nomination for Senate earlier this week with President Donald Trump’s endorsement, has invested up to $150,000 in a meme coin since its peak in late 2024, but the bet has since lost nearly all of its value.

Key Facts

what is the ski mask dog meme coin?

Ski Mask Dog, represented by an image of a dog wearing a ski mask, has traded since May 2024 with a circulation of just under 1 billion tokens, according to CoinMarketCap. The meme coin hit an all-time market capitalization of $277 million during its December 2024 peak, but it has since plummeted to $5.6 million. The token’s website said its logo is a “representation of freedom to express ourselves without judgment, both online and in real life,” and claims $SKI is a “protest against the degradation of society.”

crucial quote

“I liked the coins, so I bought them,” Collins told Decrypt when asked why he purchased Ski Mask Dog. “Washington and Wall Street have stigmatized emerging technology in the crypto ecosystem for far too long, and it’s about time that we start treating this industry with the respect it deserves.”

key background

Collins, a second-term congressman representing Georgia’s 10th Congressional District, won the Republican primary runoff for Senate on Tuesday after a late endorsement from Trump. He will face Democratic Sen. Jon Ossoff in the November general election, representing one of several races that could determine Senate control. Collins is the subject of an investigation by the House Ethics Committee over allegations that Collins’ office paid a district office intern who had a relationship with Collins’ chief of staff but did not actually work in the office. He has called the allegation a “bogus claim.”

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