The U.S. Securities and Exchange Commission (SEC) has made its final decision in the highly publicized meme coin scandal involving Haliey Welch, also known as the “Hawk Tuah Girl.” After a thorough investigation, the SEC has closed the case without filing any charges against Welch.
The controversy surrounding Welch and her meme coin, Hawk Tuah, began when the token’s value plummeted by over 90% shortly after its launch. Investors filed a lawsuit against Welch and other parties involved, alleging securities violations and market manipulation.
Welch was accused of promoting a “pump and dump” scheme, which allegedly misled investors and led to significant financial losses. However, she denied these accusations, claiming that the token was not a “rug pull” and that millions of tokens were pre-sold to “strategic advisers” who sold them early.
Despite the backlash, Welch has maintained her innocence and has been cooperating with authorities. Her name has now been cleared, and she can move forward without the burden of these allegations.
The SEC’s decision to clear Welch of charges is a significant development in the case, which had garnered widespread attention in the cryptocurrency community. The outcome is seen as a victory for Welch, who had faced intense scrutiny and criticism over her involvement in the meme coin project.
As the cryptocurrency market continues to evolve, the SEC’s decision serves as a reminder of the importance of regulatory clarity and the need for investors to exercise caution when investing in emerging assets.
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