Hawk Tuah girl Hailey Welch, known for her association with the controversial $HAWK token, has been cleared of any wrongdoing after a lengthy investigation by the U.S. Securities and Exchange Commission (SEC). The SEC has decided not to press charges against Welch in connection with the rapid rise and subsequent collapse of the meme-based cryptocurrency.
US SEC Investigation Into Hawk Tuah Girl Concludes Without Charges
The SEC had launched an investigation into the $HAWK token after its dramatic price drop. The token, which was linked to Welch’s viral persona, initially saw a market cap surge to $490 million before crashing by over 90%. Investors who were impacted by the crash filed a lawsuit against those behind the project, alleging that the coin had been promoted and sold without proper registration.
Hawk Tuah girl Hailey Welch, who cooperated fully with the investigation, expressed relief after the SEC’s decision. “For the past few months, I’ve been cooperating with all the authorities and attorneys, and finally, that work is complete,” Welch told TMZ.
Her attorney, James Sallah, confirmed that the SEC had closed the case without any findings against her, adding that there would be no monetary sanctions or restrictions on Welch’s future involvement in cryptocurrency or securities.
$HAWK Token Controversy
The $HAWK token was launched in December 2024, and it quickly gained attention due to its ties to Welch’s viral fame. The token’s value skyrocketed before plummeting within hours, leaving many early investors with heavy losses. This rapid fluctuation led to lawsuits and widespread criticism.
However, the legal action was directed primarily at overHere Ltd., the company behind the token, and its founder, Clinton So, as well as other figures associated with the project, rather than Welch herself.
The legal team for the token’s creators was accused of not following the proper procedures for launching the cryptocurrency. Investors argued that the coin was not properly registered and that the promotion of the token was negligent. Despite these concerns, the SEC’s investigation ultimately concluded with no action taken against Welch.
Hailey Welch Moves Forward with New Projects
With the SEC investigation now behind her, Hailey Welch has indicated that she is ready to move on from the world of cryptocurrency. She stated that she is “done” with the meme coin business and has severed ties with the LLC responsible for the $HAWK token.
Although the project sparked significant controversy, Welch has turned her attention to other ventures, including the production of a documentary about the rise and fall of the token.
In addition to her documentary project, Welch is also focused on her podcast, “Talk Tuah.” She emphasized her commitment to helping those affected by the cryptocurrency crash, stating that she will assist in uncovering the truth and holding those responsible accountable. Despite stepping away from the crypto world, Welch remains involved in the broader entertainment space, continuing to build her brand.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
✓ Share: