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May 23, 2022, 3:19 p.m. EDT

House panel investigating if Rep. Madison Cawthorn improperly promoted a cryptocurrency

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By Victor Reklaitis

The House Ethics Committee said in a statement Monday that it has established an investigative subcommittee that "shall have jurisdiction to determine whether Representative Madison Cawthorn may have: improperly promoted a cryptocurrency in which he may have had an undisclosed financial interest, and engaged in an improper relationship with an individual employed on his congressional staff." Cawthorn, a North Carolina Republican who lost his re-election bid last week in a GOP primary, had been dealing with calls that he should face an insider-trading investigation, after a Washington Examiner report raised questions about the congressman's moves with LGBCoin, a cryptocurrency. Cawthorn's chief of staff, Blake Harp, said the lawmaker and his staff "welcome the opportunity to prove that Congressman Cawthorn committed no wrongdoing and that he was falsely accused by partisan adversaries for political gain," according to multiple published reports.

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