Madison Cawthorn Panics After He's Implicated In Insider Trading Scheme

Madison Cawthorn is in full panic mode after a slew of legal problems emerged for him on Tuesday. The biggest is likely an investigation into possible insider trading involving an anti-Biden cryptocurrency that he was pushing. He was also busted at a North Carolina airport trying to bring a gun through security for the second time. The Congressman released a video saying that these revelations were coordinated, but Farron Cousins explains what's actually happening.

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*This transcript was auto-generated. Please excuse any typos.

It's kind of hard to argue that anybody in the Republican caucus in the house is having a worse week than Madison Callthorne yesterday, of course, or actually, no, it was Tuesday. I'm sorry. He was busted trying to bring a gun through airport security in North Carolina for the second time. And he may actually face criminal charges for that way to be seen obviously. But also later that same day he was implicated in potential insider trading scandal. And here's how that scandal works. You see Madison Callthorne was one of the investors into the let's go brand cryptocurrency. And as such this past December, he put a post on Instagram, you know, pumping up the let's go branding cryptocurrency that said tomorrow, we go to the moon.

Not sure what that means. Madison Callthorne obviously did not go to the moon in December, but what had has now raised eyebrows and has caused independent watchdogs to call for an investigation is the fact that this post on Instagram happened the day before this let's go, Brandon cryptocurrency got its big endorsement from the NASCAR driver, Brandon Brown, who of course is the guy who he didn't start the let's go, Brandon. But it was the interview with him where the lady said, no, they're saying, let's go Brandon. He's the guy where it originated basically. And so he came out the day after Madison Callthorne said, tomorrow, we go to the moon. And then of course, when tomorrow came the Bing endorsement for a cryptocurrency. So here's the thing that could be insider trading here. Madison Callthorne as an investor in this, if he had any kind of knowledge whatsoever, that was not yet publicly available, that Brandon Brown was coming out the next day to endorse this, which would drive up the value then yes, that would be considered insider to trading. Cause call thorn was already invested in, it, wanted to get people to come in, which would drive the price even higher. That's what happened. Um, of course that's hypothetically what happened? Let's be clear. He has not been charged with anything. Certainly hasn't been convicted. So we can't say he did or did not do anything. This is just what is being alleged against him. So then it comes to that. Cryptic says, tomorrow we go to the moon.

Why tomorrow? Right. And I think that's the big question. That's the reason this whole thing seems suspicious. You specifically said tomorrow we go to the moon and then a big thing happened tomorrow. So yeah, I mean, that kind of seems fairly obvious, right? But again, watchdogs have called for an investigation. There is not yet an investigation, but all of this stuff is happening at a really bad time for Madison Callthorne, uh, he is struggling with fundraising. He's actually underwater with fundraising. You have Republican Senator Tom Tillis, who is now spending money out of his own superPAC to run ads against Madison Callthorne in his district. You get busted with a gun into the airport, you get, you know, implicated in an insider trading scandal. So what does Callthorne say about all this? Well, he really the video on Wednesday that said, oh no, no, no, all this is overblown.

It's this slow drip. Right? They're just trying to take me down the establishment people with all of these horrible things, the slow drip, he kept saying, you know, story after story, after story, after story, that may be what's happening. But at the same time, uh, you kind of appear to be guilty, at least in my opinion. I mean the cryptocurrency thing. Sure. We'll see what happens with that. They're already being sued in a class action for basically running a pump and dump scheme is what the class action alleges. So yeah, there, there's all kinds of legal problems with that cryptocurrency. So we'll wait and see what happens there, but the gun in the airport for the second time. Oh, and by the way, on that same day, another body cam video was released of one of his very many traffic stops. Maybe it is a slow drip, but that doesn't change the fact that most of these things you actually did. Okay. You can't walk that crap back.