Welch has maintained she did not have an active role in the $HAWK coin rollout. Billionaire investor Mark Cuban has stepped in to defend Welch through the aftermath.
Viral internet sensation Haliey Welch, who is best known for her “Hawk Tuah Girl” video, has finally spoken out for the first time in the weeks following the crypto crash of her meme coin $HAWK just hours after it was launched.
On Thursday, a lawsuit was filed in the U.S. District Court in New York against the creators of $HAWK. Filed by investors, the suit names overHere Ltd., its founder, Clinton So, and social media influencer, Alex Larson Schultz, as well as the Tuah The Moon Foundation in the alleged failure to register the cryptocurrency that was being sold. Welch, however, is not named as a defendant in the suit.
Meme coins are cryptocurrencies that are inspired by internet memes or cultural trends. They use humor or the promise of a fun community to attract users, but for this reason are also extremely volatile and generally considered of little value.
On Dec. 4, when $HAWK tokens were launched, the meme coin rose to a $490 million market cap, before tanking by 95 percent within minutes to below $100 million. According to reports, investors lost a combined $151,000. The suit also accuses the team of exploiting Welch’s popularity to market the token, claiming insider trading and deceptive promotional practices took place.
After two weeks of silence, Welch spoke out on Friday about her commitment to help those who have lost money. She wrote on X: “I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community. I am fully cooperating with and am committed to assisting the legal team representing the individuals impacted, as well as to help uncover the truth, hold the responsible parties accountable, and resolve this matter.”
I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community. I am fully cooperating with and am committed to assisting the legal team representing the individuals impacted, as well as to help uncover the…
The 22-year-old continued: “If you have experienced losses related to this, please contact Burwick Law using the link below.” Welch has maintained that she did not have an active role in the $HAWK coin rollout.
Billionaire investor Mark Cuban has stepped in to defend Welch through the aftermath. “It wasn’t something she fully understood,” he said during a podcast with The Washington Post‘s Jules Terpak. “But she trusted the people around her.”
The Hollywood Reporter has reached out to Welch’s team and a rep for Betr Media.