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From Staff Reports
Outgoing U.S. Rep. Madison Cawthorn, R-Hendesonville, was fined more than $15,000 by the House Ethics Committee over his handling of cryptocurrency on Dec. 6.
“The action occurred after the committee found evidence that the 27-year-old lawmaker broke House rules by promoting a cryptocurrency that could have benefitted him financially,†The New York Post noted.
“The committee’s seven-month investigation found that Cawthorn purchased $150,000 in “Let’s Go Brandon†coin in December 2021, a cryptocurrency named after the “F— Joe Biden†chant mocking President Biden, and that he sold it all by January 2022,†the Post noted in its Dec. 7 story on the fining of Cawthorn.
“The investigation also found that Cawthorn promoted the coin in photos and videos and encouraged others to invest in it as its value plummeted,†the Post reported.
The 81-page report published by the panel on Dec. 6 “found substantial evidence that Representative Cawthorn promoted a cryptocurrency in which he had a financial interest in violation of rules protecting against conflicts of interest.
“House investigators, however, couldn’t agree on whether Cawthorn pumped up the cryptocurrency known as ‘LGB coin’ in an effort to personally profit from it†the Post reported.
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