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The group behind the meme coin named after the viral “Hawk to a Girl” Hayley Welch has been hit with a blow. lawsuit Comments from investors after the $HAWK coin plummeted within hours of its launch.
The complaint filed Thursday in New York accuses the Tua the Moon Foundation. overHere Ltd and founder Clinton So. According to the New York Post, influencer Alex Larson Schultz, known as “Doc Hollywood,” allegedly illegally sold and promoted coins that were not registered securities.
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Representations of cryptocurrencies can be seen in this illustrated photo taken on November 14, 2022 in Krakow, Poland. (Jakub Porzycki/NurPhoto via Getty Images / Getty Images)
Welch was not named in the lawsuit, but addressed the situation on social media on Friday.
“I take this situation very seriously and would like to convey that to my fans, affected investors, and the broader community,” she wrote to X. “I am committed to fully cooperating and supporting the legal teams representing the affected individuals.” “I am committed to uncovering the truth, holding responsible parties accountable, and resolving this matter.” Not only is it helpful. ”
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Mr. Welch instructed anyone who suffered a loss with $HAWK coins to contact Berwick Law Firm.
Hayley Welch appears at SiriusXM studios in Los Angeles on July 31st. (Michael Thalberg/Getty Images/Getty Images)
$HAWK launched on Dec. 5, and Welch promoted it to her social media followers. Memecoin quickly soared to a market cap of $490 million, but within hours its valuation plummeted to just $41.7 million.
Hayley Welch appears at SiriusXM studios in Los Angeles on July 31st. (Michael Thalberg/Getty Images/Getty Images)
Welch told Fortune magazine at the time that Hawk was not about “making money.”
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of 22 year old overnight celebrity He said he previously considered cryptocurrencies to be a scam, but changed his mind because it's a “fun way to interact with fans.”
FOX Sports' Scott Thompson contributed to this report.
