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- Hailey Welch will not face charges after the SEC ended its probe into the $HAWK token collapse.
- The SEC found no wrongdoing by Welch in the launch and crash of the $HAWK cryptocurrency token.
- Welch has cut ties with the $HAWK project and now focuses on new media and documentary work.
The U.S. Securities and Exchange Commission (SEC) has officially cleared Hailey Welch of any wrongdoing linked to the $HAWK token. Welch, widely known online as the “Hawk Tuah girl,” had faced scrutiny following the token’s dramatic rise and collapse. The SEC confirmed it will not pursue charges after months of investigation.
JUST IN: Haliey Welch, known as the “Hawk Tuah” girl, won’t face charges after the SEC closed its investigation into the $HAWK meme coin.
Despite a 95% crash and pump-and-dump claims, regulators found no wrongdoing on her part. pic.twitter.com/VUrK10FM1r
— Cointelegraph (@Cointelegraph) March 28, 2025
$HAWK Token Plunge Prompted SEC Review
The $HAWK token was launched in December 2024 and quickly attracted attention due to Welch’s viral popularity. Within hours of its launch, the token’s value surged to a market cap of $490 million. It then dropped by more than 90%, sparking outrage among early investors.
Following the crash, several investors filed lawsuits alleging fraud and negligence. They claimed the token was promoted and sold without proper registration. This led to the SEC’s inquiry into whether securities laws had been violated during the token’s promotion and distribution.
Focus of Legal Action Shifted Away from Welch
While Welch’s name was closely tied to the project, the SEC investigation centered on overHere Ltd., the company behind the token. The inquiry focused on Clinton So, the company’s founder, along with other team members. These parties were accused of failing to comply with registration rules and misleading promotion tactics.
Welch had no direct involvement in managing or operating the token’s launch. She fully cooperated with the SEC throughout the investigation. Authorities confirmed that she would not face any charges, sanctions, or future restrictions in the cryptocurrency or securities space.
Investor Frustration Remains Despite Case Closure
Despite the case’s closure, investor frustration remains. Many lost large sums during the token’s collapse. Although Welch was cleared, overHere Ltd. continues to face legal action from affected investors. The company’s internal practices and promotion methods remain under legal examination.
Welch Shifts Focus to New Ventures
With the case behind her, Welch has moved away from the cryptocurrency space. She has ended her association with the LLC behind $HAWK. Welch is now working on a documentary project that explores the token’s rise and fall. The film aims to highlight the risks tied to meme-based cryptocurrencies.
In addition, Welch continues hosting her podcast “Talk Tuah.” She has expressed interest in supporting victims of the collapse by promoting awareness and transparency. Although she has exited the crypto scene, she remains active in media and entertainment projects.
