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Madison Cawthorn Hit With US House Ethics Investigation Over Crypto Promotion
The probe, announced Monday, appears to be related to the “Let’s Go Brandon” meme coin.
By Danny Nelson
Updated May 11, 2023, 4:40 p.m. Published May 23, 2022, 6:43 p.m.
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An alleged pump-and-dump of the “Let’s Go Brandon” meme coin by Rep. Madison Cawthorn (R-N.C.) appears to have sparked an investigation by the U.S. House of Representatives.
In a press release Monday, the House Committee on Ethics announced an investigation into whether Cawthorn “improperly promoted a cryptocurrency in which he may have had an undisclosed financial interest.”
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The investigation follows reports that Cawthorn owned and promoted the Let’s Go Brandon token one day before it announced a partnership with NASCAR driver Brandon Brown. “Let’s Go Brandon” has become right-wing shorthand for “F*** Joe Biden.”
“LGB legends. ... Tomorrow we go to the moon!,” Cawthone told his Instagram followers the night prior to that announcement, according to the Washington Examiner. (The token did indeed rocket on the news. It has since cratered.)
A controversial congressman with few allies left even in the Republican Party, Cawthorn’s alleged insider trading prompted calls for a congressional ethics investigation by Sen. Thom Tillis (R-N.C.).
The investigation will have to move quickly: Cawthorn, who lost his primary race, will exit Congress at the end of the year.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Crypto industry insiders met with key senators on market structure bill negotiation
Executives and lobbyists attended a meeting today with Senator Tim Scott and others to hash out the ongoing talks over crypto's most important policy effort.
What to know:
- The crypto industry had another meeting with U.S. Senate lawmakers who are working on the market structure bill.
- The legislation will return to negotiations in January, and this marked the last big chance this year for industry representatives to clarify their positions in the talks.
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