Rep. Madison Cawthorn has been implicated in an illegal cryptocurrency insider trading scheme.

The Washington Examiner reported:

Multiple watchdog groups told the Washington Examiner that Cawthorn’s Dec. 29 Instagram post suggests the lawmaker may have had advanced nonpublic knowledge of LGBCoin’s deal with Brown. The watchdogs said the post, combined with Cawthorn’s statement that he owns LGBCoin, warrants an investigation from the Department of Justice and the Securities and Exchange Commission to determine whether the lawmaker violated federal insider trading laws.

“This looks really, really bad,” said Dylan Hedtler-Gaudette, the government affairs manager for Project on Government Oversight, a federal watchdog group. “This does look like a classic case of you got some insider information and acting on that information. And that’s illegal.”

For those of you keeping score at home, this is at minimum Cawithorn’s second criminal offense of the day. Earlier on Tuesday, Cawthorn was cited for carrying a gun into the Charlotte airport, which was the second time since 2021 that he was cited for that offense.

Cawthorn also has multiple DUIs and arrests for driving with a suspended license. Rep. Cawthorn hangs out with Matt Gaetz and Marjorie Taylor Greene. House Minority Leader Kevin McCarthy claims that he told Cawthorn to get his life together.

Rep. Cawthorn isn’t listening, and the next step could be a federal criminal investigation.

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