Recent events in the meme coin world have attracted significant attention. Scandals surrounding HAWK and LIBRA investigations, as well as Justin Sun's political involvement.
HAWK Investigation and Haliey Welch
Haliey Welch, widely known as the 'Hawk tuah girl,' revealed that the Federal Bureau of Investigation (FBI) briefly investigated her following the failed launch of the Hawk Tuah (HAWK) meme coin. Welch revealed that the FBI showed up at her grandmother's house, prompting a panicked call from her family. Ultimately, she was cleared of any wrongdoing. Welch admitted she had very limited knowledge of the cryptocurrency space and regretted trusting a group of unnamed people who orchestrated the token’s launch.
Closure of the LIBRA Investigation
Argentine President Javier Milei formally dissolved the task force established to investigate the fallout from LIBRA, the cryptocurrency project he promoted. This decision attracted considerable criticism from opposition parties, who are now advocating for a new investigatory commission. Milei denied wrongdoing, claiming he had merely shared information about the token.
Justin Sun and Trump
Meanwhile, Tron founder Justin Sun confirmed that he holds the largest amount of Donald Trump’s TRUMP meme coin. This position secured him a spot at a private dinner with the U.S. president. Sun's wallet reportedly contains around $19 million worth of the meme coin. His increasing political ties have raised ethical concerns amidst an ongoing investigation by the SEC.
The scandals surrounding meme coins highlight critical issues relating to transparency and ethics in both the crypto industry and political spheres, raising the demand for more stringent regulation.
