Haliey Welch, famously known as the “Hawk Tuah girl,” is officially clear. The U.S. Securities and Exchange Commission (SEC) has closed its investigation into her involvement with the controversial $HAWK cryptocurrency token without pressing charges or imposing sanctions. This decision allows Welch to move forward with her career, though questions remain about the token’s collapse and its impact on investors.
For months, Welch was under scrutiny after the $HAWK token—linked to her viral internet fame—skyrocketed in value before crashing spectacularly. Investors cried foul, prompting an SEC probe into whether Welch or those around her engaged in deceptive practices. However, Welch’s attorney, James Sallah, confirmed that the SEC opted not to take action, stating,
“The SEC closed the investigation without making any findings against, or seeking any monetary sanctions from, Haliey.”
Despite this, the regulatory agency has remained tight-lipped about its reasoning, leaving many observers puzzled. Welch expressed relief, saying,
“For the past few months, I’ve been cooperating with the authorities and attorneys, and finally, that work is complete.”
The controversy erupted in late 2024 when the $HAWK token gained rapid popularity, fueled by Welch’s massive online following. The cryptocurrency’s market capitalization soared to nearly $500 million before crashing by over 90% within minutes. Investors accused insiders of a classic “pump-and-dump” scheme, where early holders profit at the expense of everyday buyers.
Blockchain investigators raised red flags, pointing out that a few wallets controlled the majority of $HAWK’s supply. Popular crypto commentator Coffeezilla even produced a viral exposé, accusing Welch and her team of misleading fans into investing in a volatile and risky asset. However, Welch has consistently denied wrongdoing, claiming she was unaware of the token’s structure.
A separate lawsuit has been filed against multiple parties linked to the $HAWK token, including Overture Ltd., its founder Clinton So, and social media influencer Alex Larson Schultz. The lawsuit seeks over $150,000 in damages but notably does not name Welch as a defendant, further supporting her claims of limited involvement.
Regulators are tightening oversight of celebrity-endorsed cryptocurrency projects. According to reports, the SEC has begun conducting stricter background checks on crypto ventures involving public figures, hoping to prevent future cases like $HAWK’s.
With the crypto drama behind her, Welch is shifting her focus back to her fanbase. She has made it clear she is “done” with meme coins and has no plans to promote any cryptocurrency projects in the future. Instead, she’s diving into new creative ventures, including a documentary titled DocTuah and a Talk Tuah podcast.
Welch recently returned to social media, playfully addressing rumors that had spread during her absence—including wild speculation that she had been imprisoned or even died. By engaging her audience with humor, she appears ready to rebuild her brand on her terms.
While Welch has escaped regulatory consequences, the fallout from the $HAWK token serves as a stark warning about the risks of investing in celebrity-endorsed cryptocurrencies. Many investors lost significant amounts of money, and despite ongoing lawsuits, recovering those funds remains unlikely. The case underscores the need for stronger consumer protections in digital assets’ fast-moving and often murky world.
