SEC Drops Probe, Clearing the Way for HAWK Meme Coin's Resurgence

Haliey Welch, known online as Hawk Tuah Girl, announced that the SEC has closed its investigation into her Solana-based meme coin, HAWK. Welch stated that after months of cooperation with authorities and attorneys, the probe was ended without any findings or monetary sanctions. The coin, which had a dramatic launch reaching a market cap of $490 million before collapsing by 93% in minutes, recently experienced a 25% price jump on the decentralized exchange Meteora, now holding a market cap of about $4 million. Despite the previous controversy and backlash surrounding HAWK's rapid implosion, Welch is now set to be featured in an upcoming documentary. The ruling reflects the SEC's broader stance that meme coins often do not fall under its regulatory remit, and mirrors its previous advisories about the non-security nature of such tokens. This development offers regulatory relief for Welch and the wider meme coin community, though it leaves questions about long-term investor confidence and accountability in the space.