Cryptocurrency
Following the meme coin’s collapse, the FBI and SEC launched investigations into Welch’s involvement. FBI agents visited Welch’s grandmother’s home, interrogated her, and examined her phone for 2-3 days https://prabhuweb.com/.
Now, the social media sensation who lent her viral “hawk tuah” moment to a new digital coin is the face of the latest controversy centered around crypto and what some are calling an all-too-familiar racket meant to trick people out of their money.
Cayman Island-based sellers and promoters reportedly misused Welch’s newfound fame to promote the HAWK token as a registered security. The lawsuit alleged that the Hawk Tuah team failed to register the meme coin per securities laws. It was estimated that the team pocketed £2.46 million ($3.3 million) from the botched launch and netted an additional £1.49 million ($2 million) in fees from transactions conducted via the Meteora exchange.
The token, which launched on Solana, briefly hit a $491 million market cap before plunging below $100 million in hours. Welch’s team claimed the project was legally compliant and backed by a Cayman foundation, and said her tokens would vest over three years.
Hawk tuah girl cryptocurrency lawsuit
On Thursday, investors in the coin hit $HAWK’s creators with a lawsuit in New York federal court, seeking over $150,000 in damages and alleging they’d lost thousands on the coin, which they claimed was an illegal unregistered security.
“I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community,” she wrote. “I am fully cooperating with and am committed to assisting the legal team representing the individuals impacted, as well as to help uncover the truth, hold the responsible parties accountable, and resolve this matter.”
$HAWK launched on December 4 at 5 pm EST. According to analysis from TRM Labs, it had an initial market capitalization of $490. Within a matter of hours, the value plummeted by 91% and the market cap dropped to $41.7 million. About 10 days later, the value of the token was essentially zero.
Sean O’Driscoll is a Newsweek Senior Crime and Courts Reporter based in Ireland. His focus is reporting on U.S. law. He has covered human rights and extremism extensively. Sean joined Newsweek in 2023 and previously worked for The Guardian, The New York Times, BBC, Vice and others from the Middle East. He specialized in human rights issues in the Arabian Gulf and conducted a three-month investigation into labor rights abuses for The New York Times. He was previously based in New York for 10 years. He is a graduate of Dublin City University and is a qualified New York attorney and Irish solicitor. You can get in touch with Sean by emailing s.odriscoll@newsweek.com. Languages: English and French.
Welch jumped into the crypto craze after months of growing her brand. Since June, when her interview went viral, she has cashed in on her success with Hawk Tuah-themed merch, her podcast “Talk Tuah” and the launch of her AI dating assistant app Pookie Tools.
Cryptocurrency prices
The Bitcoin market cap is currently 2,111.59 billion. We arrive at this figure by multiplying the price of 1 BTC and the circulating supply of Bitcoin. The Bitcoin price is currently $ 106,283 and its circulating supply is 19.87 million. If we multiply these two numbers, we arrive at a market cap of 2,111.59 billion.
The miner that provides the correct solution to the problem first gets to add the new block of transactions to the blockchain and receives a reward in return for their work. Bitcoin miners are rewarded with BTC, Ethereum miners are rewarded with ETH, and so forth.
The total crypto market volume over the last 24 hours is $193.24B, which makes a 64.27% increase. The total volume in DeFi is currently $43.54B, 22.53% of the total crypto market 24-hour volume. The volume of all stable coins is now $182.75B, which is 94.57% of the total crypto market 24-hour volume.
CoinMarketCap does not offer financial or investment advice about which cryptocurrency, token or asset does or does not make a good investment, nor do we offer advice about the timing of purchases or sales. We are strictly a data company. Please remember that the prices, yields and values of financial assets change. This means that any capital you may invest is at risk. We recommend seeking the advice of a professional investment advisor for guidance related to your personal circumstances.
The Bitcoin market cap is currently 2,111.59 billion. We arrive at this figure by multiplying the price of 1 BTC and the circulating supply of Bitcoin. The Bitcoin price is currently $ 106,283 and its circulating supply is 19.87 million. If we multiply these two numbers, we arrive at a market cap of 2,111.59 billion.
The miner that provides the correct solution to the problem first gets to add the new block of transactions to the blockchain and receives a reward in return for their work. Bitcoin miners are rewarded with BTC, Ethereum miners are rewarded with ETH, and so forth.
Cryptocurrency news
Cryptocurrencies are digital or virtual currencies that use cryptographic methods to secure transactions and control the creation of new units. Unlike traditional fiat currencies, which are issued and regulated by central authorities such as governments or central banks, cryptocurrencies operate on decentralized networks. These networks often employ blockchain technology, a public ledger system that records all transactions transparently and immutably.
Our Crypto news provides comprehensive updates on various aspects of the cryptocurrency and blockchain ecosystem. It includes real-time price movements and market analysis for major cryptocurrencies like Bitcoin and Ethereum, detailing their performance trends and trading volumes. Regulatory developments are also highlighted, covering new laws, enforcement actions, and legal issues impacting the industry, both domestically and internationally. Additionally, news often focuses on technological advancements, such as upgrades to blockchain networks, new cryptocurrency launches, and innovations in decentralized finance (DeFi) and non-fungible tokens (NFTs). This coverage helps investors and enthusiasts stay informed about the dynamic and rapidly evolving world of digital assets.
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