Reading time: ~2 m
The Ethics Subcommittee accused a member of the House of Representatives of insider trading in the Let’s Go Brandon (LGB) meme token and launched an investigation.
The Investigative Subcommittee on Ethics, headed by Democratic Congresswoman Veronica Escobar (Veronica Escobar) announced the beginning of an investigation into the relationship of US Rep. Madison Cawthorn (Madison Cawthorn). The parliamentarian promoted the LGB, having, assures his colleague, a hidden financial interest.
According to Escobar’s sources, Cawthorne owned and promoted the Let’s Go Brandon token the day before announcing the partnership with NASCAR driver Brandon Brown. The meme transformed the popular ephemism of the Republicans, calling for a boycott of the position of the current president of the country – “F*** Joe Biden” – into “Let’s Go Brandon”. NASCAR driver Brandon Brown also announced to his fans that the meme token will be the main sponsor of his 2022 season, causing the value of LGB to rise by 75%.
In April, the creators of the meme token and its promoters faced a class action lawsuit over allegations of creating a “pump and dump” scheme. The 77-page lawsuit alleges that the creators of the LGB token and several other socially exposed persons misled investors about the alleged value of the crypto asset. For personal gain, they covertly controlled a significant amount of assets available for public trade, the ethics subcommittee says, to artificially inflate the value of the LGB — before selling their stakes.
The House Ethics Committee will conduct a comprehensive bipartisan investigation into the incident because “insider trading by members of Congress is a serious violation of their oath of office.”
In March, Dogecoin co-founder Billy Markus (Billy Markus) published a series of tweets that originally created as a comic cryptocurrency, Dogecoin is becoming a full-fledged crypto asset and is massively used to make purchases.
#Congressman #accused #promoting #meme #token #Lets #Brandon
