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Cawthorn admits $250,000 crypto grift (he's a crook)
Posted by: Steve G.
Date: May 27, 2022 03:44PM
Key Points
+Rep. Madison Cawthorn belatedly disclosed suspected cryptocurrency transactions that earlier this month led the House Ethics Committee to open an investigation for his possible promotion of crypto he secretly owned.
+Cawthorn, 26, revealed Friday he bought between $100,000 and $250,000 worth of “Let’s Go Brandon” cryptocurrency eight days before publicly suggesting on Dec. 29 that its price would “go to the moon.”
+A day later, the dollar value of that crypto — which is named after a derogatory phrase about President Joe Biden — soared 75% on news of its sponsorship deal with a NASCAR driver.
+Cawthorn’s disclosure came four days after the House Ethics Committee announced it was investigating the North Carolina Republican over his Dec. 29 comment in an Instagram post.

Edited 2 time(s). Last edit at 05/27/2022 05:18PM by Steve G..
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Re: Cawthorne admits $250,000 crypto grift (he's a crook)
Posted by: Tiangou
Date: May 27, 2022 04:55PM
The House Ethics Committee can't take legal action against him for this, and it can't take action in the House. It is permitted to issue guidance, investigate and make recommendations/reports. That is the whole of its authority.

There is a law against members of Congress doing insider trading of stocks, the Stop Trading on Congressional Knowledge Act of 2012, also known as the STOCK Act... It's toothless. The largest penalty is $200 and even that is rarely assessed. In a single year at least 60 members of Congress were shown to have violated the act and none were penalized.

There are no laws against insider trading of cryptocurrencies.

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Re: Cawthorn admits $250,000 crypto grift (he's a crook)
Posted by: Blankity Blank
Date: May 27, 2022 07:46PM
“Let’s Go Brandon” cryptocurrency. Seriously?

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Re: Cawthorn admits $250,000 crypto grift (he's a crook)
Posted by: Grateful11
Date: May 27, 2022 09:46PM
Blankity Blank
“Let’s Go Brandon” cryptocurrency. Seriously?

My thought too.

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