Haliey Welch, widely recognized as the “Hawk Tuah Girl,” gained viral fame in June 2024 following a candid street interview in Nashville, Tennessee.
Her colorful expression and unapologetic demeanor quickly made her an internet sensation, leading to various ventures including merchandise lines, public appearances, and the launch of her podcast, “Talk Tuah.”
However, her foray into the cryptocurrency world with the launch of the $HAWK token in December 2024 led to significant controversy and legal challenges.
The Launch and Rapid Decline of $HAWK
On December 4, 2024, Welch introduced the $HAWK memecoin on the Solana blockchain, promoting it as a community-centric project for her followers. The token experienced an initial surge, reaching a market capitalization of approximately $490 million. However, this success was short-lived; within hours, the token’s value plummeted by over 90%, dropping to around $25 million. This sudden decline resulted in substantial financial losses for investors and prompted widespread scrutiny.
Allegations and Legal Actions
The dramatic collapse of $HAWK led to accusations of a “pump-and-dump” scheme, wherein the token’s value was artificially inflated before being sold off by insiders for profit. Blockchain analytics revealed that a significant portion of the token supply was held by a small group of wallets, suggesting potential market manipulation. Specifically, reports indicated that 96% of the HAWK token supply was controlled by ten wallets, raising concerns about the token’s decentralization and fairness.
In response to these developments, a group of investors filed a lawsuit in the United States District Court for the Eastern District of New York on December 19, 2024. The suit alleged that the creators of $HAWK had unlawfully promoted and sold unregistered securities. Notably, Welch was not named as a defendant in this lawsuit. She publicly expressed her commitment to cooperating with legal proceedings and assisting affected individuals.
Investigations and Outcomes
The U.S. Securities and Exchange Commission (SEC) initiated an investigation into the $HAWK token’s launch and subsequent collapse. By March 2025, the SEC concluded its investigation without imposing any findings or sanctions against Welch. Her attorney, James Sallah, stated that Welch faced no restrictions regarding future involvement in cryptocurrency or securities.
Welch’s Response and Return to the Public Eye
Following the controversy, Welch took a hiatus from the public spotlight, ceasing updates on her social media platforms and pausing her podcast. In late March 2025, she re-emerged with a comedic Instagram skit addressing various rumors about her absence, signaling her intent to move forward from the incident.
On April 8, 2025, Welch announced the relaunch of her podcast, “Talk Tuah,” under the management of her company, 16 Minutes, ending her previous partnership with Betr Holdings, Inc. This move was described as the beginning of a new chapter, focusing on topics across entertainment, comedy, and pop culture. Additionally, plans for a documentary chronicling her rise to fame were unveiled, aiming to provide an in-depth look at her journey and the challenges she has faced.
Lessons and Reflections
The $HAWK token incident serves as a cautionary tale about the volatile nature of cryptocurrency investments, particularly those associated with internet personalities and meme culture. It underscores the importance of due diligence and transparency in the promotion and development of digital assets. For Welch, the experience highlighted the complexities of leveraging viral fame into business ventures and the potential pitfalls of entering the rapidly evolving crypto market.
As she resumes her public endeavors, Welch appears focused on rebuilding her brand and engaging with her audience through more traditional media channels, aiming to move past the controversies and refocus on her career in entertainment.
