Hawk Tuah Crypto Launch Criticized, Haliey Welch Denies Scam
Haliey Welch, known for her viral “Hawk Tuah” TikTok video, recently faced criticism over the launch of her cryptocurrency, $HAWK. This meme coin, created for entertainment, saw its value drop shortly after its launch on the Solana blockchain platform.
Some investors have filed complaints with the Securities and Exchange Commission, claiming a possible “rug pull” where developers hype a project to inflate its value, only to profit and leave investors with losses. However, Welch and her team have denied these allegations, taking to social media to address the situation.
Welch gained fame over the summer for a video posted during the CMA Fest in Nashville. Since then, she has transitioned into a social media influencer and marketer. Despite her recent setback with the cryptocurrency launch, Welch continues to engage with her audience through her podcast, Talk Tuah, and appearances with celebrities like Zach Bryan.
The Hawk Tuah coin’s market capitalization initially soared but quickly plummeted, causing significant losses for some traders. Reports indicate that a large portion of the coin’s supply was controlled by entities that manipulated its value for profit. This led to backlash on social media, with accusations of insider trading and calls for legal action from affected investors.
Critics like crypto YouTuber Coffeezilla have called the launch a “miserable” one, citing concerns about market manipulation. Despite these challenges, Welch’s team maintains that they did not engage in any unethical practices and acted in the best interest of investors.
As the situation continues to unfold, it remains to be seen how Welch will address the fallout from the Hawk Tuah coin launch. Investors are advised to exercise caution when considering investments in meme coins and to conduct thorough research before making any financial decisions.
