RALEIGH, N.C. (AP) — Departing U.S. Rep. Madison Cawthorn of North Carolina has been told to pay over $14,000 to charity after the House Ethics Committee found he financially benefited while purchasing a cryptocurrency that he was promoting and violated conflict of interest rules.
The investigation examined the one-term Republican’s purchase of LGB Coin, named for the chant “Let’s Go Brandon” mocking Democratic President Joe Biden.
The committee found Cawthorn, who lost his reelection bid in May’s primary, “acted in a manner that did not reflect creditably upon the House” based on his total conduct, according to the panel’s report and admonishment released Tuesday. That conduct, the report found, included “his repeated and knowing promotion of a cryptocurrency in which he held a financial interest.”
“While cryptocurrency promotion, particularly of a ‘meme coin,’ may be a novel issue before the committee, whether a member may promote an asset in which that…
