The SEC launched an official probe after $Hawk’s value plummeted shortly after its release, leading many to believe that early investors had manipulated the market for profit. Welch faced backlash from investors and influencers, including FaZe Banks and Coffeezilla, and remained silent for months as legal proceedings unfolded.
Now, Welch has broken her silence, confirming through her attorney, James Sallah, that the SEC has closed the investigation without finding any violations or imposing any monetary penalties. “There are no restrictions on what she can do regarding crypto or securities in the future,” Sallah stated.
Speaking to TMZ, Welch expressed relief, saying, “For the past few months, I’ve been cooperating with all the authorities and attorneys, and finally, that work is complete.” She also revealed plans to release a documentary, ‘DocTuah’, which will chronicle her journey through viral fame and controversy.
Despite calling $Hawk the “biggest mistake” of her career, Welch is looking forward to moving past the scandal and re-establishing her brand.