Rep. Madison Cawthorn Fails to Report Up to $950,000 in Crypto Trades

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North Carolina Rep. Madison Cawthorn Faces More Fire After Failing to Properly Disclose Up to $950,000 in Crypto Trades
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Rep. Madison Cawthorn (R-NC) failed to report crypto transactions between $290,000 and $950,000 within 45 days of federal law, according to a new disclosure filed Wednesday with the U.S. House of Representatives.

As reported by INSIDER, Cawthorn reported that his transactions occurred between January and March, which showed the buying and selling of six cryptocurrencies:

Kryll – $116,000 to $265,000Ethereum – $61,000 to $215,000Solana – $48,000 to $195,000Bitcoin – $47,000 to $180,000Let’s Go Brandon Coins – $15,000 to $50,000 Requests – $3,000 to $45,000

The disclosures recently filed by Rep. Cawthorn only add to the existing financial disclosure problems he is currently facing. In late May, the young congressman, who lost last month to North Carolina Sen. Chuck Edwards, revealed that he purchased a $250,000 “Let’s Go Brandon” on Dec. 21, 2021. ” coin, which sold for $100,000 after 10 days. He reported the deal four months after the disclosure was due.

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stock law

Under the STOCK Act of 2012, all financial disclosure documents must disclose ownership interests in virtual currencies worth more than $1,000 in an effort to prevent conflicts of interest and minimize insider trading.

Current congressional rules could subject Rep. Cawthorn to a fine of at least $200, but the House Ethics Committee could approve a waiver of the fine.

Among other news outlets, Business Insider’s “Conflicting Congress” project identified 63 members of Congress who also violated the STOCK Act, including 182 senior congressional staffers who also violated the act’s disclosure provisions.

Rep. Cawthorn continued to face many controversies during his short term, most recently in April when officials said he was carrying a loaded 9mm pistol inside Charlotte Douglas International Airport.

In February 2021, he was arraigned (but not charged) for attempting to carry a gun on a plane in his carry-on luggage at Asheville Regional Airport.

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