A US Representative Is Under Ethics Investigation For Crypto Activities

The House Ethics Committee is looking into North Carolina Representative Madison Cawthorn. Cawthorn is suspected of insider trading and having an inappropriate connection with one of his employees.

The United States Congress issued a statement saying that it would investigate Representative Madison Cawthorn’s (R-NC) crypto activities for allegedly advocating a coin in which he had a financial stake.

The House Ethics Committee has opened an investigation into Rep. Madison Cawthorn’s potential improper cryptocurrency activity.

The investigation will aim to determine whether North Carolina Representative Madison Cawthorn “improperly promoted a cryptocurrency in which he may have had a hidden financial interest,” according to a statement from the United States House of Representatives Committee on Ethics. The Congressman is also being investigated for perhaps having a “improper contact with an individual employed on his congressional staff.”

The probe follows an April report in the Washington Examiner that claimed Cawthorn was involved in an insider trading operation involving the cryptocurrency Let’s Go Brandon (LGB), called after the shout criticizing US President Joe Biden.

Cawthorn has publicly stated that he owns LGB and has been photographed with its creators on multiple occasions, most notably a few hours before NASCAR driver Brandon Brown announced on December 30 that LGB would be the primary sponsor of his 2022 season, causing the coin’s price to increase by 75% and reach an all-time high.

According to many watchdog groups, the lawmaker may have had advanced nonpublic knowledge of Let’s Go Brandon’s arrangement with Brown. LGB’s value fell to zero on January 29 and has not recovered since.

Cawthorn is the 11th Congressional District of North Carolina’s first-term representative. He lost his bid for reelection to state Sen. Chuck Edwards in the Republican primary on May 17.

The investigative committee will be chaired by Rep. Veronica Escobar (D-TX), with Rep. Michael Guest (R-MS) serving as its Ranking Member. On May 11, a unanimous vote authorized the investigation. Cawthorn tweeted in response to the probe, “Wow- I must still be a problem for the swamp!” “They’re still after me!”

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