Haliey Welch, prominent for her role in the Hawk Tuah series, has publicly addressed the recent lawsuit concerning the HAWK memecoin, which has attracted significant attention. In a social media update, Welch conveyed the seriousness of the matter and her commitment to transparency.
What Did Welch Say About the Lawsuit?
Welch assured fans, stakeholders, and the wider community that she will diligently provide updates. She plans to collaborate closely with her legal team to ensure that the truth is uncovered.
“I take this situation very seriously and want to address my fans, affected stakeholders, and the wider community. I am fully cooperating with the legal team representing those impacted and am determined to uncover the truth, hold accountable those responsible, and resolve this matter.”
The HAWK memecoin initially skyrocketed to a market valuation of around $500 million upon launch, only to suffer a drastic 95% decline shortly afterward, resulting in severe financial losses for backers. Consequently, a lawsuit was filed in the US District Court for the Southern District of New York.
What is overHere’s Position on the Issue?
A representative for overHere commented that they have been forthcoming about their limited role in the Hawk Tuah token project, asserting their innocence. The spokesperson pointed fingers at Alexander Larson Shultz, also known as “Doc Hollywood,” for the turmoil.
“This project requires Haliey’s team to take more responsibility, and for Shultz to step away, along with a comprehensive treasury audit. We are ready, Haliey Welch.”
The legal action names Tuah The Moon Foundation, its partner overHere, and founder Clinton So, alleging that Shultz contributed to deceptive practices during the token’s sale. The HAWK token had reportedly raised about $2.8 million in its presale and was offered with a valuation of $16.69 million. The token’s swift devaluation has raised alarms about its intent, particularly in the American market.
- Welch emphasizes her dedication to uncovering the facts.
- The HAWK token’s rapid market fluctuations have raised suspicions.
- The lawsuit implicates multiple parties in the token’s misleading sale.
- Investors are advised to remain vigilant regarding crypto ventures.
As events unfold, it is crucial for those involved in cryptocurrency investments to remain cautious and aware of legal standards impacting such projects.