Hailey Welch's Cryptocurrency Launch Faces Criticism

Hailey Welch, known as the 'Hawk Tuah Girl', has faced significant backlash following the launch of her cryptocurrency, $HAWK, which saw a staggering 90% drop in value shortly after its debut on the Solana blockchain. Initially, the coin surged by 900%, reaching a market cap of $500 million, but quickly fell to around $36 million, leading to accusations of a pump-and-dump scheme. Critics, including influencer Paige Spiranac and crypto investigator Coffeezilla, have publicly condemned the launch, with some suggesting Welch was manipulated by others involved in the project. Legal issues have also arisen, with lawyers representing clients claiming losses from the cryptocurrency. Welch's team has denied any wrongdoing, stating they are not looking to violate securities laws and claiming they aimed to tokenize her fanbase. Meanwhile, the incident has sparked the creation of a mock 'revenge coin' called $TUAH, further complicating Welch's situation in the crypto landscape.