- The late disclosure of suspicious cryptocurrency transactions that Rep. Madison Cawthorne earlier this month led the House Ethics Committee to launch an investigation into the possible promotion of secretly-owned crypto.
- Cawthorne, 26, revealed on Friday that he had publicly suggested between $100,001 and $250,000 worth of “Let’s Go Brandon” cryptocurrency on December 29 that its price would “go to the moon.”
- A day later, the dollar value of that crypto – named after the derogatory phrase about President Joe Biden – rose 75% on news of his sponsorship deal with a NASCAR driver.
- Cawthorne was revealed four days after the House Ethic Committee announced she was investigating a North Carolina Republican over her December 29 comment in an Instagram post about the “Let’s Go Brandon” coin.
Madison Cawthorne disclosed Friday suspicious cryptocurrency transactions that earlier this month led the House Ethics Committee to launch an investigation into the possible promotion of assets secretly owned by the North Carolina Republican.
Cawthorne, 26, revealed on Friday that he had bought between $100,001 and $250,000 worth of “Let’s Go Brandon” cryptocurrency on December 21. The transaction took place eight days ago when he wrote a December 29 Instagram post that said, “Tomorrow we will go to the moon,” in response to a photo of him posing with the coin’s co-founders.
A day later, the dollar value of that crypto – named after the derogatory phrase about President Joe Biden – rose 75% on news of his sponsorship deal with a NASCAR driver.
The same filing revealed Friday that the first-time congressman sold between $100,001 and $250,000 of “Let’s Go Brandon” coins on December 31.
That sale potentially at least paid off for the virtual currency before its dollar value exploded.
The value of the Let’s Go Brandon coin collapsed in early January when NASCAR rejected its sponsorship deal with driver Brandon Brown.
Cawthorne disclosed the transaction four days after the House Ethics Committee announced she was investigating a North Carolina Republican over her Instagram comment about the “Let’s Go Brandon” coin.
In the same House financial disclosure form filing Friday, Cawthorne also disclosed late in the day that he had purchased between $1,001 and $15,000 of the Ethereum cryptocurrency on December 27, and between $1,001 and $250,000 of Ethereum on December 31. .
Under the Federal Stock Act, members of Congress are legally required to file disclosures of the purchase and sale of stocks, bonds, commodity futures and other securities within 45 days of the transaction.
Cawthorne’s disclosure on Friday comes five months after he detailed the transaction.
It also came nearly two weeks after he lost the GOP primary, denying him the party’s nomination for a second term in office.
A Cawthorne spokesperson did not immediately respond to CNBC’s request for comment.
Sen. Thom Tillis, RNC. called the Ethics Committee to investigate Cawthorne for potential insider trading related to cryptocurrency in late April, when the Washington Examiner reported that Cawthorne may have broken laws preventing investors from profiting from non-public information. Is.
hawthorn angry fellow Republicans in Congress Earlier this year he claimed that old colleagues invited him to orgasm and used cocaine in front of him.
On Monday, the House Ethics Committee announced that it had authorized an investigation on May 11, with Cawthorne Chief of Staff Blake Harp saying, “We welcome the opportunity to prove that Congressman Cawthorne did no wrong.” was and was falsely accused by partisan opponents for political gains.”
“The Patriots from western North Carolina have sent us to Washington to get the job done,” Harp said.
Cawthorne tweeted later Monday: “Wow – I must still be a problem for the swamps! They’re still following me!”
The panel said that in addition to the crypto commentary, Cawthon is being investigated over whether he had an “inappropriate relationship” with a person employed on the Congressional staff.
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