A federal investigation was launched into Congressman Madison Cawthorn after allegations of insider trading and an inappropriate relationship with a staff member.
The House Ethics Committee announced their investigation on Monday.
“Pursuant to the Committee’s action, the Investigative Subcommittee shall have jurisdiction to determine whether Representative Madison Cawthorn may have: improperly promoted a cryptocurrency in which he may have had an undisclosed financial interest, and engaged in an improper relationship with an individual employed on his congressional staff.”
It’s reported that Cawthorn may have had information about a meme coin, Let’s Go Brandon, which is a chant mocking President Joe Biden.
Cawthorn made an Instagram comment about the coin, stating, “LGB legends…Tomorrow we go to the moon!”
The following day, it was announced the cryptocurrency would sponsor NASCAR driver Brandon Brown.
The sponsorship fell through after NASCAR declined to approve it. Regardless, it seems Cawthorn knew about the sponsorship deal before it was public knowledge.