### House Ethics Committee fines GOP Rep. Madison Cawthorn for promoting a meme coin he could have profited from. 

The House Ethics Committee ordered GOP Rep. Madison Cawthorn to donate $14,237.90 to charity and pay a $1,000 fee for late disclosures. 



This comes after a seven-month investigation that led to a conclusion that Rep. Cawthorn violated House rules when he promoted a cryptocurrency he could have financially benefitted from. However, Rep. Cawthorn was cleared of any fraudulent activities. 



Rep. Cawthorn promoted the cryptocurrency “Let’s Go, Brandon,” on Instagram and appeared in other advertising materials over two weeks in December and January this year. The name of the coin refers to a meme insulting President Biden. 



The committee also concluded that Rep. Cawthorn purchased $150,000 worth of digital currency at a discount not offered to the public.  



The report did not determine if Rep. Cawthorn profited from the cryptocurrency investment, but Rep. Cawthorn did say to the committee that the value of the coin has decreased since his purchases. 



In its report, the Ethics Committee said, “the Committee’s established guidance provides that Members should not be actively involved in promoting or endorsing any goods or services in which the Member or the Member’s family has a financial interest.”



Rep. Cawthorn, who is from North Carolina, lost this primary election this year and is leaving Congress at the end of this term.


House Ethics Committee fines GOP Rep. Madison Cawthorn for promoting a meme coin he could have profited from. 

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Thu Dec 08 2022 GOP Rep Madison Cawthorn Fined by House Ethics Panel Over Meme Coin

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Thu Dec 08 2022

GOP Rep Madison Cawthorn Fined by House Ethics Panel Over Meme Coin