Add “Hawk Tuah Girl” to the list of cryptocurrency probes that U.S. regulators are no longer interested in.
Haliey Welch, who became known as the “Hawk Tuah Girl” after a viral video, has revealed that the investigation into the contentious meme coin linked to her phrase has concluded without any repercussions for her from U.S. authorities.
“I’ve been collaborating with various officials and legal representatives for the last few months, and that process is finally finished,” Welch shared with a news outlet.
Welch’s lawyer, James Sallah, provided further insight into the results:
The SEC has ended the investigation without any findings against Haliey or any financial penalties sought. Since they took no action against her, there are no restrictions on her future activities related to crypto or securities.
The $HAWK token faced scrutiny from regulators after it experienced a severe downturn following a rapid rise. Just prior to the crash, the coin reached a market cap nearing $500 million, only to fall to around $3 million, leaving many investors reeling from significant losses.
While Welch has avoided penalties from the SEC, the developers of the coin are now facing a separate lawsuit that accuses them of negligence for launching the token without the necessary regulatory approvals.
Insiders close to Welch report that she has cut ties with the LLC responsible for the coin and will not endorse or promote it any longer.
Welch’s rise to fame can be traced back to a street interview in which her frank comments about a particular physical act quickly captured the internet’s attention. She has since leveraged her newfound celebrity through various projects, such as the “Talk Tuah” podcast.
Additionally, reports suggest that a documentary about “Hawk Tuah” is currently in the works.
Another leniency for crypto?
The Hawk Tuah coin isn’t the only cryptocurrency venture that has seen regulatory indulgence.
The SEC has recently dismissed multiple investigations and lawsuits involving various cryptocurrency companies, including Immutable, Crypto.com, Ripple, and Coinbase.
Following the resignation of former SEC chair Gary Gensler, who was appointed by the Biden administration, cryptocurrency firms and entrepreneurs have encountered more relaxed regulatory scrutiny under the current Trump administration.
According to sources, several crypto firms, such as Ripple, Coinbase, Kraken, Robinhood, and Circle, have made substantial contributions to Trump since November 5, 2024.
After the implosion of the Hawk Tuah meme coin, Welch briefly stepped back from social media, resulting in speculation about her role in the project.
However, despite the surrounding controversy, Welch seems eager to move ahead.
“I’m excited to be getting back into things,” she stated.