Congressman facing insider cryptocurrency trading allegations says he’s being targeted

Republican Representative for North Carolina, Madison Cawthorn, is astatine the bosom of allegations involving the nonaccomplishment to disclose cryptocurrency holdings.

Accusations of breaking insider trading rules travel from chap Republican Thom Tillis, who calls connected Congress to analyse Cawthorn’s engagement with the Let’s Go Brandon token. Senator Tillis, besides of North Carolina, said:

“Insider trading by a subordinate of Congress is simply a superior betrayal of their oath, and Congressman Cawthorn owes North Carolinians an explanation.”

Cawthorn claims he’s the unfortunate of a ‘coordinated drip campaign’ aft refusing to prosecute with House Colleagues successful Washington. He besides claims to person witnessed cocaine usage among cardinal figures.

The Let’s Go Brandon cryptocurrency token

Accusations Rep. Cawthorn violated insider trading rules stem from his engagement with the Let’s Go Brandon cryptocurrency token.

The word Let’s Go Brandon originated from a viral video of NASCAR operator Brandon Brown talking to NBC aft winning the NASCAR Xfinity Series. During the interview, the assemblage could beryllium heard chanting “f*ck Joe Biden.” The interviewer spun the chant to  “let’s go, Brandon” arsenic a signifier of harm control.

The word has since go a marker of pro-Republican support. And it was lone a substance of clip until idiosyncratic created a meme token retired of it.

CoinMarketCap shows 3 Let’s Go Brandon tokens, LGBT, LETSGO, and LGB. Further investigations bespeak the archetypal token is LGB, which hedge money manager James Koutoulas founded.

Price question for LGB shows a precocious of $0.000001655 connected January 1, 2022, followed by a crisp decline. Other than 2 spikes, the archetypal astir mid-February and a much protracted 1 successful mid-March, LGB shows the hallmarks of a dormant token.

Source: CoinMarketCap.com

Cawthorn responds

Failing to disclose cryptocurrency holdings greater than $1,000 puts Rep. Cawthorn successful usurpation of insider trading rules enacted for nationalist transparency.

“It was amerciable for members of Congress to prosecute successful insider trading and created disclosure requirements that let the nationalist to spot whether their representatives tin personally payment successful the votes they formed oregon the authorities they introduce.”

In response, Rep. Cawthorn said the “establishment” is conducting a ‘coordinated drip campaign’ against him. A drip run is the aforesaid arsenic a smear campaign.

Rep. Cawthorn remains unfazed by the ‘drip campaign,’ calling it thing much than ‘political shenanigans.’ He remains assured of winning re-election to correspond North Carolina’s 11th Congressional District connected May 17, 2022.