I haven't decided if Madison Cawthorn hovered too close to the truth when he said House Republicans had "coke orgies" or if he's just so stupid they've decided he has to go, but watching the knives aimed at him by his fellow Republicans is, well, just pretty delicious.
Today, on April 26th in the year of our Lord 2022, Madison Cawthorn stepped on his own rake AND found himself in an insider trading quagmire. And the day isn't even over yet.
First, he thought he'd be really smart (showing how dumb he actually is) and slouched into the airport with a gun in his bag. When will TSA revoke his preclearance? This is the second time!
Oh, I see. He was on his way to a vote. That explains why he was only cited and not arrested, but seriously, take the boy's guns away before he shoots his eye out.
But there's more. With this dude, there's always more. The always right-wing
Moonie Anschutz outlet Washington Examiner has a juicy tidbit, too. It seems Cawthorn is implicated in an insider trading scheme involving his investment in "Let's Go Brandon" and crypto, the 21st century flavored scam of the season.
According to the report, on December 29th, Cawthorn posed with hedge fund manager James Koutoulas, promoter of the Let's Go Brandon cryptocurrency, a meme coin set up in the wake of the chant mocking President Joe Biden. In a post on Instagram, Cawthorn responded, writing "LGB legends. ... Tomorrow we go to the moon!" He also let it be known he owned some of the memecoins (because of course).
NASCAR driver Brandon Brown announced the following day that the memecoin would be his primary sponsor for the 2022 season, causing the price to skyrocket. That announcement included the photo of Katoulas and Cawthorn.
Immediately following Brown's Dec. 30 announcement, the value of all LGBCoin in circulation eclipsed $570 million. By the end of January, the market cap of the meme coin dropped to $0.
Koutoulas said in a Feb. 20 livestream that two factors led to LGBCoin's precipitous decline: First, NASCAR rejected LGBCoin's sponsorship deal with Brown on Jan. 4, and then later that month, unidentified insiders that owned an outsize share of the coin dumped all their holdings at once, causing the coin's market value to evaporate.
The swift rise and fall of the meme coin led one jilted investor to file a class-action lawsuit in April accusing Koutoulas and other LGBCoin insiders of using the digital currency to orchestrate a pump-and-dump scheme.
I love to mock Republicans for being the source of all the oppo dumps here, but Madison Cawthorn is no different than any of them. If there's a difference, it's that he's too dumb about it and gets caught too often. But when it comes to the grift and the take, he's just another Republican doing what Republicans do.
(Article corrected to reflect proper ownership of The Washington Examiner