The allegations stem from Cawthorn's involvement with Let's Go Brandon coin, a cryptocurrency based on the conservative meme mocking President Joe Biden.
— have made him a magnet for controversy as the GOP looks to regain majority control of the House in the midterm elections., and a Tillis-tied super PAC reportedly spent more than $300,000 on ads that attacked Cawthorn.
A spokesman for Cawthorn did not immediately respond to CNBC's request for comment. In an Instagram post Tuesday night, Cawthorn slammed "Rino senators and establishment pawns [who] want us to go back to the days before [former President Donald] Trump."that Cawthorn may have broken federal insider trading laws, which restrict investors from profiting off non-public information.
Cawthorn has publicly boasted about his holdings of the Let's Go Brandon coin, a cryptocurrency which gets its name from a conservative meme mocking PresidentJames Koutoulas, a lawyer and fund manager who is described in an investor lawsuit as the co-founder of the company, posted a photo on Instagram on Dec. 29 at a party with Cawthorn and Erik Norden, another co-founder of the crypto currency.
Let's Go Brandon coin's value shot up more than 75% after the announcement, bringing the total value of all the coins in circulation to more than $570 million, according to news reports. Days later, NASCAR
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