The House Committee on Ethics issued a press release that it is starting an investigation on Republican Congressman, Madison Cawthorn for his alleged ties to crypto.
The investigation is going to look into whether Cawthorn “promoted a cryptocurrency in which he may have had an undisclosed financial interest,” according to the press release. It will also decide if Cawthorn had an “improper relationship” with anyone from his congressional staff.
Cawthorn had openly shown his support for the ‘Let’s Go Brandon’ cryptocurrency, which was focused at making fun of President Joe Biden.
Cawthorn not only owned but also endorsed the Let’s Go Brandon token one day before its partnership with NASCAR racer Brandon Brown was announced.
According to the Washington Examiner, Republican Senator Thom Tillis of North Carolina has asked for a bipartisan investigation of insider trading by members of Congress.
Cawthorn created controversy for his right-wing, headline-grabbing remarks and public support for former President Donald Trump. Cawthorn lost the re-election for the Congressional primary just this month.
Also Read: Tom Emmer Questions SEC Chair About his Recent Crypto Probing
Veronica Escobar, a Democratic congresswoman from Texas, will chair the Investigative Subcommittee, with Republican Congressman Michael Guest of Mississippi serving as the ranking member.
