Texas Rep Gill Faces Scrutiny for Late Bitcoin Trade Disclosures

Texas State Representative Brandon Gill is under intense scrutiny for failing to report two significant Bitcoin trades within the required 45-day window, as mandated by the Stop Trading on Congressional Knowledge (STOCK) Act. Gill, a first-term House member, reported two Bitcoin purchases, each valued between $100,001 and $250,000, on January 29 and February 27. These disclosures were filed weeks after the deadline, raising questions about the timing of the trades and potential violations of the STOCK Act, which aims to prevent insider trading and financial conflicts among lawmakers.

The first purchase, made in late January, occurred shortly after President Donald Trump signed an executive order promoting U.S. leadership in digital assets. The second purchase, in late February, came just ahead of Trump's announcement of a "strategic Bitcoin reserve." These coincidences have sparked further scrutiny and speculation about Gill's motives and the potential influence of his trades on his legislative activities.

In addition to these late disclosures, Gill also reported two more Bitcoin purchases in May, valued up to $250,000 and $100,000 respectively, which were filed on time. Beyond his Bitcoin activities, Gill disclosed positions in the Invesco S&P 500 Equal Weight ETF and holdings in the TOIXX money market fund, all of which were reported within the required timeframe.

Gill's late disclosures have drawn criticism from various quarters, with some calling the $200 fine for such violations a "joke." The congressman serves on the Committee on Oversight and Government Reform, the main investigative committee of the U.S. House of Representatives, as well as the Budget and Judiciary committees. His vocal support for cryptocurrency and his legislative efforts to promote government transparency have also been noted.

Gill's ties to Trump's inner circle are well-documented. He is the son-in-law of conservative filmmaker Dinesh D'Souza, who was pardoned by Trump in 2018 after a campaign finance conviction. Employees of D'Souza Media were among Gill's top donors in 2024. Trump himself has faced scrutiny over his personal use of cryptocurrency, with critics questioning potential conflicts of interest or personal financial gain.

Gill's case is part of a broader trend of lawmakers facing scrutiny for late trade disclosures. Several other representatives, including Jamie Raskin, Dwight Evans, and Neal Dunn, have also filed late trade disclosures this year. Meanwhile, a bipartisan push to ban members of Congress and their families from trading individual stocks and cryptocurrencies is gaining momentum on Capitol Hill. This movement aims to address concerns about insider trading and conflicts of interest among lawmakers.