Hawk Tuah memecoin price spikes after SEC reportedly spits out case

3d ago•

bullish:

bearish:

Viral star Hailey Welch, better known online as the “Hawk Tuah girl,” is likely breathing a sigh of relief today.

She says the US Securities and Exchange Commission has closed its investigation into her involvement in the HAWK memecoin that pumped and dumped in December, with no charges filed.

“For the past few months, I’ve been cooperating with all the authorities and attorneys, and finally, that work is complete,” Welch told TMZ on Friday.

Her lawyer, James Sallah, confirmed the SEC concluded its probe “without making any findings against, or seeking any monetary sanctions from, Hailey,” adding that she now faces no restrictions when it comes to crypto or securities.

The update coincided with a short-lived 60% spike in the HAWK token’s price on Friday, despite Welch stating she has parted ways with the LLC behind the project and has no plans to support or promote it going forward.

Welch and her legal team addressed the memecoin’s chaotic launch last month in an episode of her Talk Tuah podcast.

In it, her other attorney, Christian Barker, explained how poorly structured deals, unchecked token allocations, and broken promises tanked the coin.

According to Barker, Welch had been promised a $325,000 payout and 5% of the token supply, subject to a year-long lockup.

But 17% of the supply was allegedly pre-sold and dumped almost immediately — despite supposed lockups — while 80% remained in the hands of the developer.

The token famously soared to $500 million in market cap within minutes of launching in December before crashing 90% shortly after, prompting investor backlash and a lawsuit against the coin’s creators.