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 response to a brand new report by TMZ, the regulatory company is closing the probe into Welch – generally known as the “Hawk Tuah” woman for her 2024 viral video – with out submitting any costs towards 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 value after which promote giant quantities of it, concurrently profiting and inflicting the asset’s value to plunge, leaving traders sitting on huge unrealized losses.
As said by James Sallah, Welch’s legal professional, in response to TMZ,
“The SEC closed the investigation with out making any findings towards, or searching for any financial sanctions from, Haliey. As a result of they didn’t deliver any motion towards her, there are not any restrictions on what she will be able to do with regard to crypto or securities sooner or later.”
Sources instructed TMZ that Welch has minimize ties with the agency that launched the coin and gained’t be selling or supporting it shifting ahead. In December, Welch mentioned she would cooperate with authorities and was dedicated to resolving the difficulty.
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