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Cryptocurrency News Articles
Renato Moicano Labels Haliey Welch's Hawk Tuah Cryptocurrency a 'Rug Pull' Scam, Warns Fans to Avoid Celebrity Endorsements
Dec 12, 2024 at 10:03 pm
Renato Moicano recently offered his candid opinion on the storm of controversy enveloping Haliey Welch's Hawk Tuah cryptocurrency. 'Money' has certainly embraced his nickname, consistently sharing his thoughts on a variety of economic and financial matters, particularly cryptocurrency, in his post-fight interviews and social media posts.
UFC lightweight Renato Moicano has weighed in on the controversy surrounding Haliey Welch's Hawk Tuah cryptocurrency, labeling it a classic case of a "rug pull" scam during a recent appearance on The Ariel Helwani Show.
Welch, who rose to internet stardom with her viral "hawk tuah" catchphrase in a TikTok video, introduced her own memecoin earlier this month. The Solana blockchain-based currency reportedly surged to a market capitalization of nearly $500 million, only to crash by 95% to $25 million just within a day after its launch. This dramatic decline led to significant losses for many traders and sparked suspicions of a scam, with critics accusing Welch of deceiving her fans.
During an appearance on The Ariel Helwani Show, Moicano was asked for his thoughts on the tumultuous launch of the Hawk Tuah meme coin. The No. 10 ranked UFC lightweight fighter didn’t hold back, labeling it a classic case of a rug pull scam. He warned his fans to resist the allure of celebrity endorsements and steer clear of such high-risk financial investments:
“It’s a classic case of a rug pull. I know a lot of people lost money with that Hawk Tuah coin, but I’m not surprised because, to be honest, I saw this coming from a mile away. When I saw her launching this coin and saw the way it was being hyped up, I knew it was going to end badly. I’m not trying to bash her or anything, but it’s clear that this whole thing was just a money grab.
“She’s a young girl who became famous overnight thanks to a funny video, but she doesn’t know anything about finance or cryptocurrency. It’s like when you see a famous actor endorsing a new car or a watch. Just because they’re famous doesn’t mean they know what they’re talking about, especially when it comes to high-risk investments like crypto. So, always do your own research and don’t let anyone pressure you into buying anything.”
Moicano added:
“I’ve always been interested in finance and economics, which is why I like to share my thoughts on these matters. I know a lot of fighters are struggling financially, so I want to use my platform to help them make smart decisions with their money. I’m not saying everyone should follow my advice blindly, but I encourage everyone to do their own research and be wary of any get-rich-quick schemes.”
Renato Moicano set to clash with Beneil Dariush at UFC 311 on Jan. 18
Renato Moicano is set to square off against Beneil Dariush in a high-stakes lightweight clash at UFC 311, scheduled for Jan. 18 at the Intuit Dome in Inglewood, Calif.
Moicano enters the bout riding a four-fight win streak, most recently securing a dominant second-round TKO victory over Benoit Saint-Denis in the main event at UFC Paris in September.
Dariush, on the other hand, is returning to the octagon after a year-long absence following back-to-back knockout defeats to Arman Tsarukyan and Charles Oliveira last year.
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