On June 8, Cawthorn filed more reports of crypto trades he made in January to March, reflecting 24 purchases totaling between $290,000 to $950,000 in crypto projects including Kryll, Ethereum, Solana, Bitcoin, Let's Go Brandon, and Request.
Representative Madison Cawthorn belatedly reports up to $950,000 in crypto trades, long past the STOCK Act deadline
Representative Madison Cawthorn under ethics investigation related to crypto, violated STOCK Act
On May 26, Cawthorn filed a disclosure to say he had bought between $100,000 and $250,000 of the "Let's Go Brandon" ($LGB) coin on December 21 — eight days before posting that the coin would "go to the moon" just before a deal with NASCAR was announced. The coin then went up in price and Cawthorn sold at least $100,000 of his holdings. This timing led to accusations that Cawthorn had advance knowledge of the partnership.
Cawthorn also disclosed in the same May 26 filing that he bought between $101,000 and $265,000 of Ethereum in late December. Although Congressmembers are required by the STOCK Act to disclose purchases of various assets (including cryptocurrencies) within 45 days of the transaction, Cawthorn's disclosure came five months after the purchase. Cawthorn recently lost his primary, ending his chances of re-election, but his current term isn't slated to end until January 2023.
- Statement of the Chairman and Ranking Member of the Committee on Ethics Regarding Representative Madison Cawthorn
- "Rep. Madison Cawthorn discloses 2021 ‘Let’s Go Brandon’ cryptocurrency purchase days after ethics probe announced", CNBC
- "GOP Rep. Madison Cawthorn failed to properly disclose 'Let's Go Brandon' and Ethereum cryptocurrency purchases", Business Insider
Representative Madison Cawthorn faces accusations of insider trading and disclosure violations related to Let's Go Brandon coin
Class action lawsuit filed against "Let's Go Brandon" coin creators for alleged pump-and-dump
De Ford has named the LGB coin creators in the suit, as well as NASCAR, and promoters like Brandon Brown and Candace Owens.