Hawk Tuah (HAWK) meme coin girl, Haliey Welch, is cleared by the SEC

The viral Hawk Tuah meme girl, Haliey Welch has revealed that the U.S. Securities and Exchange Commission (SEC) has closed investigation on her HAWK meme coin that crashed 95% within hours after its launch and she was accused of rug-pulling the token.

The U.S. Securities and Exchange Commission (SEC) has closed its investigation into the Hawk Tuah (HAWK) meme coin, which crashed 95% within hours of its launch, and no findings were made or monetary sanctions sought from meme girl Haliey Welch, reported TMZ.

The news outlet spoke with Welch, who confirmed that she is "walking away clean" from the probe into the token, which had become the subject of a lawsuit by disgruntled investors.

Welch’s attorney, James Sallah, stated that the SEC has not brought any action against her, and there are no restrictions on what she can do in the future.

"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," said Sallah.

Earlier, a group of investors sued the creators of HAWK, including Welch, alleging that they enticed investors with promises of future growth, leading to major losses as the token’s value dropped drastically.

HAWK soared to a staggering market capitalization of over $500 million before plummeting to just $25 million within a few hours.

The SEC probe focused on whether the meme coin's promoters engaged in any unlawful activities during the token's promotion and sale.

The commission typically investigates to determine whether a violation of federal securities law has occurred and, if so, to recommend appropriate enforcement action.

However, the SEC did not comment on Welch’s claim that the probe into the meme coin has been dismissed.