Haliey Welch, the internet personality behind the viral “Hawk Tuah” phenomenon, is no longer under scrutiny by the U.S. Securities and Exchange Commission (SEC) following the collapse of her Solana-based meme coin, $HAWK. Welch confirmed on Friday that the investigation had been formally closed without any charges or financial penalties.
“For the past few months, I’ve been cooperating with all the authorities and attorneys, and finally, that work is complete,” she told TMZ.
Welch had remained mostly silent about the controversy until now, but her legal team revealed that the SEC concluded its probe without issuing findings or seeking sanctions—clearing the way for her to participate in future crypto or securities ventures without restriction.
Launched in December 2024, $HAWK soared to a staggering $490 million market cap before crashing by over 93% in minutes, wiping out millions in speculative value. The abrupt collapse led to public backlash and briefly prompted Welch to deactivate her social media accounts.
While it was previously known that Welch was cooperating with civil legal action involving the coin’s creators, her involvement in a formal SEC investigation had not been disclosed until this week.
The incident also reignited broader concerns about influencer accountability in the meme coin space. But just last month, the SEC signaled that most meme coins are not classified as securities, and thus fall outside the agency’s enforcement perimeter—a stance that likely influenced the decision to close the case.
Welch Distances Herself from HAWK Creators as Meme Coin Regret Lingers
Though cleared by the SEC, Haliey Welch remains linked to ongoing civil litigation targeting the backers behind $HAWK, the now-infamous meme coin she helped popularize. The case, however, does not name Welch as a defendant. Instead, legal action has been filed against the crypto launch platform overHERE, its founder Clinton So, influencer Alex Larson Schultz (known online as Doc Hollywood), and an entity called the Tuah the Moon Foundation.
Welch was one of several celebrities who launched viral meme coins during last year’s retail frenzy, joining names like Caitlyn Jenner, Jason Derulo, and Andrew Tate in an industry trend fueled more by internet virality than financial fundamentals. But her involvement, she later admitted, was rooted in limited understanding.
In a now-deleted interview with FaZe Banks, Welch expressed remorse about the project’s outcome, revealing that her knowledge of crypto was “surface-level” and that she “didn’t really know what [she] was getting into.”
Despite the controversy, the $HAWK token surged on Friday following news that the SEC had closed its probe, jumping 25% on the Solana-based DEX Meteora, with a daily trading volume of $333,000 and a current market cap of just over $4 million, according to GeckoTerminal.
Still, Welch appears determined to move on. According to TMZ, she has no plans to promote or revive the failed token. Instead, she’s turning the page with a planned appearance in an upcoming documentary chronicling her rise—and the crypto detour that nearly derailed it.
From Viral Sensation to Crypto Controversy
Haliey Welch, better known as the “Hawk Tuah girl,” shot to viral fame in mid-2024 after a street interview clip of her uttering the now-iconic phrase:
“You gotta give ‘em that hawk tuah”
exploded across social media platforms. The clip’s memeability, paired with Welch’s unapologetic charisma, quickly turned her into an internet phenomenon, landing her brand deals, podcast features, and a rapidly growing fanbase.
It was that same viral momentum that later made her a prime target for crypto opportunists, leading to the launch of $HAWK, a meme coin leveraging her online persona. With the SEC investigation now closed, Welch seems eager to reclaim her narrative—this time, far away from blockchain drama.
Quick Facts:
- The SEC has officially dropped its investigation into Haliey Welch, clearing her of any wrongdoing in connection to the $HAWK meme coin collapse.
- Welch’s Solana-based token surged to a $490 million market cap before crashing over 93% within minutes of launch.
- Her legal team confirmed the SEC concluded its probe without findings or financial penalties, allowing her to engage in future crypto or securities projects.
- The SEC recently stated that most meme coins do not fall under its jurisdiction, likely influencing its decision to close the case.
