Haliey Welch, known as 'Hawk Tuah', won't face charges after SEC completes investigation into the $HAWK meme token project.
Launch and Collapse of the Meme Token
The $HAWK meme token project rapidly rose to a $490 million market cap before crashing to $60 million in just three hours. This led to widespread dissatisfaction among investors, many of whom were new to cryptocurrency.
SEC Investigation and Halie's Stand
The SEC investigated after the token's crash, but Haliey Welch was not charged. Her lawyer confirmed the investigation closed without findings against her. Haliey also announced cutting ties with the coin's LLC.
Fallout and Community Reaction
Despite Haliey avoiding charges, the incident sparked negative reactions, including 'pump-and-dump' allegations by YouTuber Coffeezilla. Haliey denies these claims, stating her team didn’t sell any tokens, though blockchain analysis suggests otherwise.
Haliey Welch will not be involved in future projects related to the token and plans to focus on new endeavors, including a documentary and podcast.
