The Blubber

Haliey Welch has announced that the U.S. Securities and Exchange Commission (SEC) has closed its investigation into the HAWK meme coin — a token that infamously crashed by 95% just hours after launch — clearing her of any wrongdoing following accusations of orchestrating a rug pull.

In an interview with pop culture news outlet TMZ, Welch stated that she is no longer under investigation by the SEC and that she is “walking away clean.”

Welch told TMZ she had been cooperating fully with authorities over the past several months and that the matter is now resolved.

The controversy began in December 2024, when the HAWK meme coin surged to a market capitalization of over $500 million before nosediving to just $25 million within hours. The sudden collapse led to widespread speculation that the project was a rug-pull scam, with Welch accused of misleading investors.

Several investors who lost thousands of dollars sued Welch and the other HAWK creators, claiming they were misled into believing the coin had strong growth potential, only to suffer heavy losses when its value plunged.

“The SEC closed the investigation without making any findings against, or seeking any monetary sanctions from, Haliey,” said her attorney, James Sallah.
“Because they did not bring any action against her, there are no restrictions on what she can do in regards to crypto or securities in the future.”

The SEC has not commented on Welch’s statement regarding the investigation's closure or its findings — or lack thereof — concerning the HAWK Tuah (HAWK) meme coin.