Haliey Welch and the Hawk Tuah Meme Coin Controversy
Haliey Welch, an internet personality known for a viral street interview discussing an oral sex technique, has expressed her remorse over her involvement in the Hawk Tuah meme coin debacle. In a recent interview with Vanity Fair, she revealed that her period of silence following the incident was a necessary break for her mental well-being.
The Rise and Fall of Hawk Tuah (HAWK)
The controversy began when Welch endorsed Hawk Tuah (HAWK), a Solana-based meme coin linked to her viral interview. The token saw an astonishing market capitalization of $490 million within just 15 minutes of its launch but subsequently fell by 93%. Analysts at Bubblemaps discovered that 96% of the token’s supply was controlled by only 285 wallets, many of which sold off their tokens immediately for profit, igniting concerns of a rug pull.
Legal Repercussions and Personal Reflections
In response to the fallout, Burwick Law filed a federal lawsuit in the United States on behalf of investors against the coin’s creators. Welch has confirmed her cooperation with the legal team, stating, “I feel bad for everyone who lost money in this situation. It’s essential to vet what you endorse, and I regret not doing my due diligence beforehand.”
Welch admitted her limited understanding of cryptocurrency and acknowledged the pain she felt from reading comments from fans who suffered financial losses due to the token’s collapse. “Seeing comments from people saying they lost a lot of money, who now struggle to provide for their families, makes me feel deeply sorry,” she reflected.
Events Following the Token Launch
The launch of the Hawk Tuah token involved individuals and entities including Doc Hollywood (identified in the lawsuit as Alex Larson Schultz), OverHere Limited, Clinton So, and the Tuah the Moon Foundation. On launch day, Welch and other key figures attempted to calm upset investors during an X Spaces event, although this proved to be ineffective. Afterward, OverHere seemingly shifted responsibility to Schultz, while Welch distanced herself, claiming she was uninvolved in the token’s technical aspects.
She left the X Spaces abruptly with a casual, “Anyhoo, I’m gonna go to bed,” marking the beginning of a two-week silence that sparked memes about her supposed hibernation.
Mental Health and Future Endeavors
Upon eventually speaking out, Welch detailed her struggles with mental health, saying, “I needed a break. I’ve found it hard to cope since gaining so much visibility from that interview. It’s strange to have your life publicly scrutinized, especially when it feels like your actions have led to others losing money.”
After breaking her silence to support the lawsuit, Welch faced further scrutiny following the leak of a podcast episode where she spoke with YouTube star FaZe Banks and various crypto influencers. This led to allegations of market manipulation, resulting in another quiet period for her.
Despite the challenges, Welch is looking to move forward, as evidenced by the return of her podcast, Talk Tuah, featuring four new episodes. She emphasizes the need for greater scrutiny of future partnerships, stating, “You inevitably start questioning people more than you might have before, just to avoid finding yourself in another difficult situation.”
