The U.S. Securities and Change Fee (SEC) is reportedly closing its investigation into social media influencer Haliey Welch over the alleged rug pull of her memecoin.
In accordance with a brand new report by TMZ, the regulatory company is closing the probe into Welch – often called the “Hawk Tuah” woman for her 2024 viral video – with out submitting any expenses in opposition to her after it was alleged that she performed a rug pull following the launch of Hawk (HAWK) in December.
The SEC investigated Welch after her Solana (SOL)-based memecoin quickly misplaced its worth after a giant rally, triggering accusations that the HAWK memecoin was a rug pull.
A rug pull is when the creators of a brand new asset deliberately inflate its worth after which promote massive quantities of it, concurrently profiting and inflicting the asset’s worth to plunge, leaving traders sitting on huge unrealized losses.
As acknowledged by James Sallah, Welch’s legal professional, in line with TMZ,
“The SEC closed the investigation with out making any findings in opposition to, or looking for any financial sanctions from, Haliey. As a result of they didn’t deliver any motion in opposition to her, there are not any restrictions on what she will be able to do with reference to crypto or securities sooner or later.”
Sources advised TMZ that Welch has minimize ties with the agency that launched the coin and received’t be selling or supporting it shifting ahead. In December, Welch stated she would cooperate with authorities and was dedicated to resolving the difficulty.
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