Where is Brandon? – US senators have chosen to fill up with Bitcoin (BTC) on the sly. But this is not the case for all US legislators. One of them is suspected of having backed a dodgy shitcoin.
The chairman and senior members of the United States House of Representatives Ethics Committee announced in a statement dated May 23, 2022, the establishment of an investigative subcommittee that will attempt to respond to two questions related to the actions of Republican Congressman Madison Cawthorn :
- did the latter “inappropriately promote a cryptocurrency in which he may have had an undisclosed financial interest »?
- had an “inappropriate relationship” with a member of his congressional staff?
Madison Cawthorn is North Carolina’s representative to Congress, having won the 2020 election. This young politician is a strong supporter of Donald Trump. However, he has just lost in May 2022, the race for the Republican primary against State Senator Chuck Edwards.
Madison Cawthorn is the originator of many controversies which may have earned him this defeat. He notably accused members of Congress of participating in orgies and using cocaine.
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Pump-and-dump on imaginary tracks: an off-track political shitcoin
The subcommittee’s investigation appears to focus on alleged links between Madison Cawthorn and Let’s Go Brandon (LGB) shitcoin. The name of this cryptocurrency takes up the slogan, which is actually a hidden insult, used by opponents of President Joe Biden.
This slogan was born out of a misunderstanding during a live interview of young Nascar driver Brandon Brown by NBC Sport, in October 2021 in Alabama. Brandon Brown had just won the race. Many people in the audience had seized the opportunity to insult Joe Biden.
Journalist Kelli Stavast who, at the time, did not seem to have heard these insulting remarks, had then told the runner that:
” You can hear the crowd chanting, ‘Let’s go Brandon’ »
The current investigation into Madison Cawthorn seeks to determine whether this member of Congress contributed to the orchestration of a shitcoin pump-and-dump by posting on Instagram at the end of December 2021:
“LGB legends…Tomorrow we go to the moon!” »
This message would have been published a day before the value of shitcoin soared, whilea Nascar driver asserted that this crypto project would sponsor it.
The market capitalization of LGB would have even briefly reached $570 million following this announcement. LGB’s price then crashed after Nascar rejected the idea of a shitcoin sponsorship.
This fall also took place after a group of insiders seemed to have sold their LGBs after the initial announcement about this sponsorship which therefore ultimately never took place.
Will LGB investors file a complaint against those allegedly responsible for the pump-and-dump of this shitcoin? After all, that investor who searched for the next bitcoin and lost $10,000 in shitcoins, did not hesitate to sue Uniswap.
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