Add Haliey Welch, the viral “Hawk Tuah” star, to the growing list of influencer misadventures in the crypto space.
The meme personality is facing serious backlash after her newly launched cryptocurrency, Hawk, took a nosedive from a $490 million market cap to just $60 million in mere hours.
The crypto community, including YouTuber “Coffeezilla” (whose real name is Stephen Findeisen), is accusing Welch of running a “pump and dump” scheme, where hype drives the price up, only for insiders to cash out and leave investors hanging.
Welch denied any wrongdoing. In a social media post, she claimed that her team “tried to stop snipers,” bad actors who artificially inflate prices by buying large amounts early, creating an illusion of demand.
A community note on Welch’s X post indicated that Welch’s team had been “selling their token since launch.”
At last check Saturday, the Hawk Tuah coin was down over 7%. Just minutes earlier, it was up by 0.45%.
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Author: Anthony Patrick
