The U.S. Securities and Trade Fee (SEC) is reportedly closing its investigation into social media influencer Haliey Welch over the alleged rug pull of her memecoin.
In keeping with 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 expenses in opposition to her after it was alleged that she carried out 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 an enormous 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 acknowledged by James Sallah, Welch’s lawyer, in accordance 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 be able to do with reference to crypto or securities sooner or later.”
Sources instructed TMZ that Welch has reduce ties with the agency that launched the coin and received’t be selling or supporting it transferring ahead. In December, Welch stated she would cooperate with authorities and was dedicated to resolving the problem.
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