Hawk Tuah Girl Says SEC Dropping Probe Into Solana Meme Coin: TMZ

Hawk Tuah Meme Coin Investigation Over, SEC Drops Probe

Securities and Exchange Commission (SEC) Investigation Dropped

The Securities and Exchange Commission (SEC) has dropped its investigation into Haliey Welch, the creator of the meme coin Hawk Tuah, following a successful cooperation with authorities and attorneys. Welch, who is also known online as the girl behind Hawk Tuah, made the announcement on Friday.

Background on Hawk Tuah Meme Coin

Hawk Tuah was launched on the Solana blockchain in December, quickly gaining popularity and reaching a market cap of $490 million. However, the meme coin’s value plummeted 93% in value within minutes, prompting a backlash and forcing Welch to temporarily take her account offline.

SEC Investigation and Its Aftermath

While it was previously known that Welch was cooperating with a civil lawsuit against Hawk Tuah’s creators, it was not publicly known that she faced an investigation from the SEC. Welch’s lawyer told TMZ that the SEC closed its probe "without making any findings against, or seeking any monetary sanctions," allowing her to do as she pleases concerning cryptocurrencies and securities.

Meme Coin Regulation

The SEC’s decision to drop the investigation raises concerns over the accountability that meme coin promoters and those who launch them face. In a recent statement, the SEC advised that it does not generally view meme coins as securities and does not fall under its regulatory remit.

Conclusion

The dropping of the SEC investigation into Haliey Welch, the creator of the meme coin Hawk Tuah, marks a significant development in the world of cryptocurrencies. The case highlights the need for greater accountability and regulation in the meme coin space, as well as the importance of cooperation with authorities and attorneys.

FAQs

Q: What happened to Hawk Tuah?
A: Hawk Tuah was a meme coin that was launched on the Solana blockchain in December. It quickly gained popularity and reached a market cap of $490 million, but its value plummeted 93% in value within minutes.

Q: Who is Haliey Welch?
A: Haliey Welch is the creator of Hawk Tuah and is also known online as the girl behind Hawk Tuah.

Q: What is a meme coin?
A: A meme coin is a type of cryptocurrency that typically trades on marketing and hype.

Q: What is the role of the Securities and Exchange Commission (SEC) in regulating cryptocurrencies?
A: The SEC is responsible for regulating securities and overseeing the securities markets. In the context of cryptocurrencies, the SEC has traditionally viewed them as securities and has sought to regulate them as such.

Q: What is the current status of the SEC investigation into Haliey Welch?
A: The SEC has dropped its investigation into Haliey Welch, the creator of Hawk Tuah, following a successful cooperation with authorities and attorneys.

Q: What are the implications of the SEC’s decision to drop the investigation?
A: The decision raises concerns over the accountability that meme coin promoters and those who launch them face, as well as the need for greater regulation in the meme coin space.