Congress launches ethics investigation into Rep. Madison Cawthorn's crypto activities

Republican Congressman Madison Cawthorn will be the subject of an ethics investigation in Congress for his alleged ties to crypto.

The investigation by the House Committee on Ethics will look into whether Cawthorn "promoted a cryptocurrency in which he may have had an undisclosed financial interest," according to a statement issued Monday.

It will also probe whether Cawthorn had an "improper relationship" with someone from his congressional staff.

Cawthorn publicly supported the Let's Go Brandon cryptocurrency, which was aimed at mocking President Joe Biden, according to the Washington Examiner, prompting North Carolina Republican Senator Thom Tillis to call for a bipartisan inquiry into "insider trading by a member of Congress."

A first-term congressman from North Carolina, Cawthorn stirred controversy for his right-wing, headline-grabbing remarks and support of former President Donald Trump. Cawthorn lost his bid for reelection in a Congressional primary earlier this month. 

Democratic Congresswoman Veronica Escobar, from Texas, will serve as Chair of the Investigative Subcommittee and Republican Congressman from Mississippi Michael Guest will serve as ranking member.