Former Valkyrie CEO and co-founder Stephen McClurg reveals the Trump administration's impact on cryptocurrencies in “Claman's Countdown.”
The group behind Haley Welch's “Toa Falcon Girl” meme coin has been dealt a blow. Lawsuit from investors after the $HAWK coin crashed within hours of its launch.
The lawsuit, filed in New York on Thursday, accuses the Tuah Mah Foundation. OverHere Ltd and founder Clinton Sue. and influencer Alex Larson Schulz, known as “Hollywood Deck,” for illegally selling and promoting the coin, which apparently was not a registered security, according to the New York Post.
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The cryptocurrency symbol is seen in this file photo taken on November 14, 2022 in Krakow, Poland. (Jakub Porzycki/NurPhoto via Getty Images/Getty Images)
Welch was not named in the suit, and he addressed the situation on social media on Friday.
“I am taking this situation very seriously and would like to address my fans, affected investors and the wider community,” he wrote on X. And also to help discover the truth, answer the responsible parties and solve this issue.”
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Welch directed anyone who suffered losses from $HAWK coin To contact Burwick Law Firm.
Holly Welch will appear at SiriusXM Studios in Los Angeles on July 31st. (Michael Tolberg/Getty Images/Getty Images)
$HAWK launched on December 5, and Welch promoted it to his social media followers. Meme Coin quickly reached a market capitalization of $490 million, before falling to $41.7 million within hours.
Holly Welch will appear at SiriusXM Studios in Los Angeles on July 31st. (Michael Tolberg/Getty Images/Getty Images)
Welch told Fortune at the time that Hawke wasn't going to be a “cash grab”.
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particle for direct object 22-year-old celebrity overnight Said that while he saw cryptocurrency as a scam, he changed his mind because it's a fun way to engage my fans.
Scott Thompson of FOX Sports contributed to this report.