Hailey Welch, known as the ‘Hawk Tuah’ girl, released a new episode on her podcast on Thursday, where she finally talked about the crash of her meme coin. The video was soon removed from her YouTube channel.
Welch discusses misleading token presentation
In the latest episode, Welch discussed her motivation to launch the Hawk Tuah token. According to her, the idea of a meme coin did not attract her initially, due to lack of knowledge in the crypto space. However, she agreed to launch it, thinking that half of the profits would go to her charity. Welch claims she was misled about the project's long-term viability.
Financial consequences and lawsuit
Welch is now suing the meme coin makers, claiming she was deceived regarding the project's tokenomics as about 80% of the token's supply was held by a deployer. The Hawk Tuah token was released on December 4, 2024, and quickly reached nearly $500 million in market cap hours after launch, before crashing over 91%.
Reaction from FaZe Clan representatives
FaZe Banks, CEO of gaming organization FaZe Clan, with whom Welch did the interview, stated he agreed to the recording under certain conditions. He mentioned that the episode should not be released without his approval. However, the episode was leaked to the public, leading to its swift removal. Banks believes the token's trading activity was inflated by the leak.
The situation surrounding the Hawk Tuah meme coin and Hailey Welch’s subsequent actions is drawing significant attention in the crypto community. The ongoing lawsuit may influence how such projects are perceived in the future.
