The meme coin world just got a little less dramatic for Haliey Welch, the internet personality known as “Hawk Tuah Girl,” as the SEC reportedly dropped its probe into her brief crypto venture.
Welch, whose Solana-based meme coin HAWK saw a meteoric rise to a $490 million market cap before crashing by 93% within minutes last December, confirmed to TMZ that the Securities and Exchange Commission investigation is over. She stated, “For the past few months, I’ve been cooperating with all the authorities and attorneys, and finally, that work is complete.”
Though it was public knowledge Welch was involved in a civil lawsuit related to HAWK, the SEC’s interest was previously undisclosed. Her attorney clarified to TMZ that the SEC concluded its probe “without making any findings against, or seeking any monetary sanctions,” effectively giving Welch a clean slate regarding future crypto or securities dealings.
HAWK’s rapid deflation sparked wider conversations around accountability for meme coin promoters. Interestingly, last month the SEC itself suggested it doesn’t typically regulate meme coins. When Decrypt sought comment, the SEC maintained its policy of not commenting on possible investigations.
Despite the probe, Welch is not named in the ongoing civil lawsuit, which instead targets the launchpad overHERE, its founder Clinton So, influencer Alex Larson Schultz (aka “Doc Hollywood”), and the Tuah the Moon Foundation. In a past interview with FaZe Banks, Welch admitted her crypto knowledge was limited and expressed regret over how her foray into meme coins unfolded.
Recent market activity shows HAWK’s price jumped 25% on the DEX Meteora, with a current market cap of $4 million and $333,000 in daily trading volume, according to GeckoTerminal. However, TMZ reports Welch has no intentions of further promoting the coin. Her next appearance will reportedly be in a documentary profile.