The U.S. Securities and Change 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 – referred to as the “Hawk Tuah” lady for her 2024 viral video – with out submitting any expenses towards 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 buyers sitting on large unrealized losses.
As acknowledged by James Sallah, Welch’s lawyer, 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 convey any motion towards her, there aren’t any restrictions on what she will do with reference to crypto or securities sooner or later.”
Sources advised TMZ that Welch has reduce ties with the agency that launched the coin and received’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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