US Congressman Could Face Charges for Promoting a Crypto Pump and Dump Scheme
Congressman Madison Cawthorn could face charges for violating insider trading laws after promoting a cryptocurrency pump and dump scheme.Madison Cawthorn, a Republican congressman from North Carolina, has been accused of his involvement in a pump and dump crypto scheme dubbed Lets Go Brandon (LETSGO).
According to a recent report by the Washington Examiner, several regulatory watchdogs have implicated Cawthorn in an alleged insider trading scheme involving the relatively short-lived crypto project.Let’s Go Brandon is a memecoin named after the chant mocking President Joe Biden. Hedge fund manager James Koutoulas pioneered the project.On December 29, 2021, Cawthorn posted on Instagram, “LGB legends. … Tomorrow we go to the moon!” He also admitted that he has a portion of the cryptocurrency in his portfolio.
Source
@CryptoWorldAnalysis
