The U.S. Securities and Alternate Fee (SEC) is reportedly closing its investigation into social media influencer Haliey Welch over the alleged rug pull of her memecoin.
Based on a brand new report by TMZ, the regulatory company is closing the probe into Welch – referred to as the “Hawk Tuah” lady for her 2024 viral video – with out submitting any fees 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 giant 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 lawyer, in line with TMZ,
“The SEC closed the investigation with out making any findings in opposition to, or in search of any financial sanctions from, Haliey. As a result of they didn’t carry any motion in opposition to her, there are not any restrictions on what she will do with reference to crypto or securities sooner or later.”
Sources instructed TMZ that Welch has lower ties with the agency that launched the coin and gained’t be selling or supporting it shifting ahead. In December, Welch stated she would cooperate with authorities and was dedicated to resolving the difficulty.
Observe us on X, Facebook and Telegram
Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox
Test Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Each day Hodl should not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal threat, and any losses you might incur are your duty. The Each day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please notice that The Each day Hodl participates in affiliate marketing online.
Generated Picture: DALLE3
