The cryptocurrency world has been abuzz with the latest dirt involving the Hawk Tuah meme coin, which has left investors gyrate and raised serious interrogative about the legitimacy of sealed crypto projects. In this article, we will delve into the details of the scandal, its implications, and the reactions of the party require.
The Wage Increase and Fall of Hawk Tuah Coin
On December 4, 2024, social media star and podcaster Haliey Welch, too cognize as Hawk Tuah Girl, set up her own meme coin, $ HAWK, on the Solana blockchain. The coin ‘s value quickly surged to a $ 490 million market capitalization, only to crash 95 % within second, leaving investors with meaning financial losses(2)(3).
Allegations of Insider Trading and Unregistered Security
Critics have aver that the coin ‘s creators, admit overHere Ltd. and its founder Clinton Thusly, lock in insider trading and sold unregistered protection. A lawsuit register in New York federal lawcourt criminate the suspect of leverage Welch ‘s extensive social media following to market the token as a groundbreaking cryptocurrency project, while attempting to skirt American security department laws(3)(4).
Welch ‘s Response and Cooperation
Welch has utter out for the first time in weeks, addressing her buff, investor, and the broader community. She has tell that she claim the situation extremely seriously and is fully cooperating with the legal team representing the individuals impacted. Welch has also directed her followers to a natural law firm currently suing over the coin(3)(5).
Defenses and Denials
OverHere Ltd. and its founder Clinton So have denied misconduct, arrogate that they have been extremely pellucid about their involvement in the Hawk Tuah token project. They have as well defended Welch, stating that her team has sold no souvenir and make a 10 % apportioning that is locked for 1 yr and vested over 3 years(3)(5).
Implications and Controversies
The Hawk Tuah coin scandal has raised unplayful questions about the legitimacy of certain crypto projects and the need for rigorous regulation. The Securities and Exchange Commission (SEC) is right away investigating the matter, and investors are sue for damages. The malicious gossip has besides sparked a debate about the office of societal media influencers in elevate crypto projection and the need for greater transparency and answerability.
Close
The Hawk Tuah coin malicious gossip is a defining moment in crypto history, foreground the need for capital regulation and transparency in the industry. As the probe retain and the lawsuit unfolds, it remain to be watch what consequences the parties ask will face. One thing is certain, nevertheless : the crypto community will be watching closely to attend how this scandal plays out.
Sources :
(1) Coinbase. (n. d.). Hawk Tuah (hawktuah. vip) Price (HAWKTUAH). Retrieved from https://www. coinbase. com/price/hawk-tuah
(2) Fast Company. (2024, December 30). Why Hawk Tuah Girl ‘s crypto scandal may be the defining import of 2024. Retrieved from https://www. fastcompany. com/91248975/why-hawk-tuah-girls-crypto-scandal-may-be-defining-moment-of-2024
(3) The Independent. (2024, December 21). Viral Hawk Tuah Girl breaks silence over financial losses from her branded meme coin. Retrieved from https://www. the-independent. com/news/world/americas/hawk-tuah-coin-lawsuit-crypto-b2668157. html
(4) Fox 9. (2024, December 22). Group behind viral ‘ Hawk Tuah ‘ whizz ‘s meme coin slay with lawsuit. Retrieved from https://www. fox9. com/news/hawk-tuah-meme-coin-lawsuit
(5) The Independent. (2024, December 21). Viral Hawk Tuah Girl better silence over fiscal losses from her brand meme coin. Retrieved from https://www. independent. co. uk/news/world/americas/hawk-tuah-coin-lawsuit-crypto-b2668157. html
Keywords : Hawk Tuah coin, crypto dirt, meme coin, Haliey Welch, overHere Ltd. , Clinton So, unregistered security, insider trading.
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