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 – often known as the “Hawk Tuah” lady 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 massive quantities of it, concurrently profiting and inflicting the asset’s value to plunge, leaving buyers sitting on large unrealized losses.
As said by James Sallah, Welch’s legal professional, in line with 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 aren’t 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 gained’t be selling or supporting it shifting ahead. In December, Welch mentioned she would cooperate with authorities and was dedicated to resolving the problem.
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