Haliey Welch, also known as the “Hawk Tuah Girl,” addressed the controversy surrounding her memecoin, which dropped in value shortly after launch, prompting holders to file a lawsuit against her team.
What happened: During an interview with Vanity Fair on Friday, the viral influencer expressed regret and emotional distress over the incident, stating that she didn’t fully understand cryptocurrency.
“Half of those people that done it were, like, my fans. They trusted me, like, guiding them to it. And I don’t know…it really hurt my feelings when it turned out the way it did. I wish it hadn’t have [sic] happened,” Welch said.
She admits to knowing very little about cryptocurrency and should have done more research before beginning such a venture.
“You got to be really careful what you tie your name to, and you definitely need to know what you’re getting yourself into when you agree to do it,” Welch said.
The ‘Hawk Tuah Girl’ said she took a “much-needed” mental health break from the public eye after the controversy
See Also: Trump Denies Personal Profit From Memecoin Venture: ‘I Haven’t Even Looked’
Why It Matters: The Solana SOL/USD-based HAWK meme coin ballooned to a $490 million market capitalization shortly after its December launch before swiftly plunging 91%, leaving unsuspecting investors holding the bag.
On-chain detective Stephen Findeisen, better known as Coffeezilla, described the launch as one of the most “miserable and horrible” ever, alleging insider trading activity.
The team behind the token denied allegations of a rug pull, a scam where creators raise funds for the coin, causing its value to soar only to disappear with the invested funds, leaving the project worthless.
According to a TMZ report from March, Haley’s attorney said that the SEC closed its investigation without taking any action against her.
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