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BTC
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ETH
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2.33%
BNB
$703.48
1.55%
USDT
$0.9992
0.07%
XRP
$2.29
2.05%
SOL
$199.60
4.89%
DOGE
$0.3321
3.22%
USDC
$1.00
0.04%
ADA
$0.9227
1.27%
STETH
$3,473.09
2.11%
TRX
$0.2562
1.63%
AVAX
$40.99
6.09%
WBTC
$99,641.26
2.95%
LINK
$24.63
2.23%
TON
$5.87
4.74%
SHIB
$0.00002317
3.74%
DOT
$7.44
1.71%
BCH
$463.22
1.57%
LEO
$9.50
1.55%
NEAR
$5.53
2.57%
BTC
$97,975
3.75%
ETH
$3,474.60
2.33%
BNB
$703.48
1.55%
USDT
$0.9992
0.07%
XRP
$2.29
2.05%
SOL
$199.60
4.89%
DOGE
$0.3321
3.22%
USDC
$1.00
0.04%
ADA
$0.9227
1.27%
STETH
$3,473.09
2.11%
TRX
$0.2562
1.63%
AVAX
$40.99
6.09%
WBTC
$99,641.26
2.95%
LINK
$24.63
2.23%
TON
$5.87
4.74%
SHIB
$0.00002317
3.74%
DOT
$7.44
1.71%
BCH
$463.22
1.57%
LEO
$9.50
1.55%
NEAR
$5.53
2.57%
BTC
$97,975
3.75%
ETH
$3,474.60
2.33%
BNB
$703.48
1.55%
USDT
$0.9992
0.07%
XRP
$2.29
2.05%
SOL
$199.60
4.89%
DOGE
$0.3321
3.22%
USDC
$1.00
0.04%
ADA
$0.9227
1.27%
STETH
$3,473.09
2.11%
TRX
$0.2562
1.63%
AVAX
$40.99
6.09%
WBTC
$99,641.26
2.95%
LINK
$24.63
2.23%
TON
$5.87
4.74%
SHIB
$0.00002317
3.74%
DOT
$7.44
1.71%
BCH
$463.22
1.57%
LEO
$9.50
1.55%
NEAR
$5.53
2.57%
USD

Ad
Turner Wright
Dec 20, 2024


HAWK TUAH INFLUENCER SPEAKS OUT AFTER MEMECOIN RUG PULL ALLEGATIONS

A memecoin bearing Haliey Welch’s likeness rose to a market capitalization of
roughly $500 million after its launch on Dec. 4 before dropping by 90%.

24760 Total views
19 Total shares
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2:04

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Haliey Welch, the influencer behind the viral “Hawk Tuah” video clip, has
released a statement after a memecoin bearing her handle pumped and dumped
quickly after its December launch.

In a Dec. 20 X post, Welch said she was “fully cooperating” with lawyers who
represented investors in the Hawk Tuah (HAWK) token.

The crypto users filed a lawsuit against the project’s creators and partners —
Welch herself was not named as a defendant in the suit — alleging they engaged
in the promotion and sale of an unregistered securities offering.

A statement posted to X on Dec. 20. Source: Haliey Welch

On Dec. 4, the HAWK token launched, rising to a market capitalization of roughly
$500 million before quickly dropping by 90%, prompting many users to speculate
it was a rug pull. Welch called on anyone affected to contact lawyers, adding
she took the situation “extremely seriously.”


FROM TIKTOK STARDOM TO MEMECOIN PROMOTER?

Welch, who rose to internet fame after a June clip of her describing a sexual
act went viral on TikTok, has parlayed the incident into her Hawk Tuah nickname
and brand. Her likeness was used on the HAWK token, and she promoted the
memecoin on social media.

Related: Coffeezilla calls out ‘insane headlines’ about Hawk Tuah memecoin

According to blockchain data, one wallet sniped HAWK tokens shortly after the
project launched, purchasing roughly 18% of the memecoin supply and then selling
it for more than $1 million in profit. Many of the memecoin’s investors,
however, reported massive losses after the price pumped and dumped.

It’s unclear whether Welch or the project’s founders could face criminal or
regulatory lawsuits in the United States as a result of the memecoin launch.
Under Securities and Exchange Commission Chair Gary Gensler, the regulator has
treated the majority of tokens as securities under its purview. However, the SEC
is set to change hands to Republican control beginning in January.

Magazine: Influencers shilling memecoin scams face severe legal consequences

Explore more articles like this

Subscribe to the Markets Outlook newsletter

Get critical insights to spot investment opportunities, mitigate risks, and
refine your trading strategies. Delivered every Monday


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 * #Business
 * #Tokens
 * #Pump and dump
 * #Scams
 * #Memecoin


23 3 3 3 2 2 2 1
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