Haliey Welch Breaks Silence on Hawk Tuah Meme Coin Collapse

After staying quiet for a period, which she described as a necessary mental health break, Welch shared her thoughts in an interview with Vanity Fair on May 2.

The situation began when Welch promoted a Solana SOL $174.70 -based cryptocurrency called Hawk Tuah. The token was launched and quickly reached a market value of $490 million. However, within 15 minutes, the value dropped by 93%, which led to accusations that the project was a rug pull.

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Welch expressed regret for her part in the situation. She admitted that she had not fully understood how the cryptocurrency industry worked before agreeing to promote the meme coin. She also shared that seeing people say they lost money because of the project made her feel responsible. She told Vanity Fair,

It was one of those things that just happened, and I feel sorry for everybody that just lost money.

In the interview, Welch also spoke about how the backlash from the HAWK token's failure affected her mental health. She said, "I hate to say this, but it was a much-needed mental health—just…what do you call it? A mental health break, I guess, is what you can call it.".

The Hawk Tuah token was created with the involvement of several parties. These included Doc Hollywood, identified in legal documents as Alex Larson Schultz, as well as OverHere Limited, Clinton So, and an organization called the Tuah the Moon Foundation.

Meanwhile, Elon Musk recently called a report from The Wall Street Journal "an EXTREMELY BAD BREACH OF ETHICS." What happened? Read the full story.