Haliey Welch, the online sensation behind the “Hawk Tuah” meme, is officially no longer under investigation by the U.S. Securities and Exchange Commission (SEC).

The agency has closed its probe into her involvement with the Solana-based meme coin HAWK, which briefly soared in value before crashing.

Online sensation Haliey Welch, known for the “Hawk Tuah” meme and her involvement with the Solana-based meme coin HAWK, is no longer being investigated by the U.S. Securities and Exchange Commission (SEC).

The agency has closed its probe into Welch’s actions related to the coin, which briefly soared in value before crashing.

“For the past few months, I’ve been cooperating with all the authorities and attorneys, and finally, that work is complete,” Welch stated to TMZ.

According to Welch’s attorney, the SEC completed its investigation and decided not to pursue any action against her. This decision removes a significant legal hurdle for Welch, whose sudden entry into the crypto space had drawn scrutiny from both regulators and the public.

HAWK Token: Rapid Rise and Fall

In December, Welch launched the HAWK meme coin, which immediately drew massive attention and speculative investment. However, the coin’s meteoric rise was short-lived. It quickly lost value, leading to financial losses for those who invested in the hopes of profiting from the coin’s hype.

While Welch was publicly linked to a civil lawsuit involving HAWK’s creators, it was previously undisclosed that she was also being investigated by the SEC.

The SEC’s probe focused on whether Welch’s actions violated any securities laws. It appears the agency did not find sufficient evidence to warrant legal action.

The investigation's closure also sheds light on the SEC’s approach to meme coin regulation. While the agency typically investigates potential fraud and misstatements in the securities markets, its involvement in the investigation of a meme coin is noteworthy.

The HAWK token’s crash sparked heated discussions about the regulation of meme coins and the responsibility of influencers who promote such tokens to their large followings.

In a recent statement concerning the SEC’s view on meme coins, the agency stated: