‘Hawk Tuah’ influencer Haliey Welch has revealed the investigation into her meme-themed cryptocurrency has been closed and she was not hit with any charges.
The 22-year-old rose to fame in June 2024 after her signature phrase about oral sex went viral on TikTok.
Playing into her internet reputation, she launched her multi-million dollar ‘$HAWK token’ in December 2024 – a decision that erupted in immediate disaster when the memecoin crashed just hours later.
A memecoin is a type of cryptocurrency that stems from an internet meme or some other humorous trend, such as the ‘Hawk Tuah’ craze.
Welch’s coin quickly rose to a $490 million market cap, before ultimately tanking more than 90 percent, to below $100 million, within just hours of its debut.
Infuriated ‘$HAWK token’ investors soon filed a lawsuit against the group behind the coin, accusing them of unlawfully promoting and selling cryptocurrency that was allegedly never properly registered.
But after a thorough investigation by the US Securities and Exchange Commission (SEC), Welch’s name has been cleared from the crypto-controversy, TMZ reported.
‘For the past few months, I’ve been cooperating with all the authorities and attorneys, and finally, that work is complete,’ Welch exclusively told the outlet.
The lawsuit was filed against the group behind the memecoin: overHere Ltd., its founder, Clinton So, and social media influencer, Alex Larson Schultz, as well as the Tuah The Moon Foundation.
‘Hawk Tuah’ influencer Haliey Welch rose to fame in June 2024 after her signature phrase about oral sex went viral on TikTok
Playing into her internet reputation, she launched her multi-million dollar ‘$HAWK token’ in December 2024
Her internet re-debut consisted of a clip that seemingly pokes fun at the ‘$HAWK token’ situation and other rumors made about her
Welch was not explicitly named as a defendant in the legal filing.
The plaintiffs’ lawyers alleged that a pre-sale for the coin had raised approximately $2.8 million, at a valuation of $16.69 million, ahead of the launch date, according to the lawsuit.
The investors are seeking more than $150,000 in damages. Welch’s attorney said she did not have to pay a dime.
‘The SEC closed the investigation without making any findings against, or seeking any monetary sanctions from, Haliey,’ Welch’s lawyer James Sallah explained to TMZ.
‘Because they did not bring any action against her, there are no restrictions on what she can do in regards to crypto or securities in the future.’
Now that she is free from the burden of the legal scandal, Welch is reportedly ‘happy to be starting back up again,’ according to TMZ.
Welch’s comeback does not involve any kind of cryptocurrency, but she is apparently planning a ‘Hawk Tuah’ documentary.
‘The documentary will chronicle how Welch, a young woman from a small-town with no active social media presence, unknowingly created a viral moment that gave way into a global phenomenon,’ the project’s description reads, Deadline reported.
Welch had been on a social media hiatus ever since she came under fire for the memecoin debacle.
The Talk Tuah podcast host took a break from social media after the cryptocurrency scandal erupted, even though she was never named in the lawsuit
Stepping back into the spotlight, Welch said a ‘Hawk Tuah’ documentary is in the works
But she has stepped back onto the scene, posting a video captioned ‘What’d I miss?’ on TikTok and Instagram on Tuesday.
Her internet re-debut consisted of a clip that seemingly pokes fun at the ‘$HAWK token’ situation and other rumors made about her.
The 45-second spoof video shows Welch asleep, dozing off and waking up in between nightmares.
The first bad dream is about her being dead, featuring her grave and news segments about her passing.
During the next nightmare, Welch plays into people speculating about her being pregnant from a photo of her in a bikini at the beach.
Welch humorously sports a massive baby bump – balancing a cup on her belly and eating pickles.
Finally, the Talk Tuah podcast host addresses the memecoin catestophy. This segment features clips of Joe Rogan and Stephen Colbert discussing the matter as Welch is locked up in a prison cell.
Even though the SEC’s investigation has been closed, the lawsuit against the group behind the coin is ongoing.