Haliey Welch, popularly known as the “Hawk Tuah Girl,” has finally addressed the recent turmoil surrounding her meme coin, $HAWK, which suffered a significant crash shortly after its launch. Her comments come in the wake of a lawsuit filed in New York against the creators of the crypto coin, which alleges unlawful promotion and sale practices, implicating individuals associated with the project but excluding Welch as a defendant.
The $HAWK token made waves on December 4, reaching a staggering market cap of $490 million almost immediately after its release. However, it plummeted by 95 percent shortly thereafter, resulting in losses amounting to $151,000 for investors involved. The lawsuit claims that the creators exploited Welch’s popularity to promote the token, asserting that insider trading and misleading marketing practices occurred as part of the coin’s launch.
Following weeks of silence, Welch took to social media on Friday to express her commitment to those affected by the crash. In her message on X, she emphasized her seriousness regarding the situation, stating that she is actively cooperating with legal representatives to aid those who lost money. She also insisted that she did not play a direct role in the coin launch and urged anyone suffering losses to seek legal assistance.
Billionaire investor Mark Cuban also defended Welch, suggesting that she may not have fully grasped the complexities of the situation but placed trust in the individuals around her.
This situation serves as a stark reminder of the volatile nature of meme coins and the risks associated with investing in cryptocurrencies inspired by internet trends. However, Welch’s commitment to transparency and support for those affected offers a glimmer of hope. Her willingness to help investigate the matter could pave the way for accountability and a more secure environment for future cryptocurrency projects.
In conclusion, as the investigation continues, there is an opportunity for greater clarity in the cryptocurrency space, reinforcing the importance of responsibility and trustworthiness among influencers and creators.