The House Ethics Committee has voted unanimously to launch an investigation into Rep. Madison Cawthorn for his connection to an alleged cryptocurrency scam and a possible inappropriate relationship with a member of his staff.
The scandal-prone Cawthorn , who lost his renomination bid earlier this month, has been accused of insider trading related to the Let's Go Brandon cryptocurrency, a Washington Examiner investigation revealed.
Jordan Libowitz, the communications director for the watchdog group Citizens for Responsibility and Ethics in Washington, hailed the committee's decision to investigate Cawthorn's promotion and reported financial interest in the meme cryptocurrency but noted that the committee doesn't have much time to complete its inquiry following Cawthorn's primary defeat last week to North Carolina state Sen. Chuck Edwards.
"There is substantial reason to believe that Rep. Cawthorn may have committed insider trading or some other manner of impropriety," Hedtler-Gaudette told the Washington Examiner."The natural next step is an official investigation, and the findings of that investigation will be important to the effort to prevent this kind of misconduct in the future.
The next day, Koutoulas was featured in a statement from NASCAR driver Brandon Brown announcing that the coin would be the primary sponsor of his 2022 season, causing the cryptocurrency's value to spike by 75%.Koutoulas revealed in response to the Washington Examiner's reporting that Cawthorn last traded the coin three weeks before the announcement was made.
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