In a recent discussion, Twitch star Pokimane weighed in on the controversial cryptocurrency project launched by Haliey Welch, also known as Hawk Tuah girl, amidst a lawsuit targeting the team responsible for the failed initiative. This conversation draws attention to the responsibilities influencers hold, especially in the volatile world of memecoins.
The Launch of Hawk Coin
Haliey Welch launched her first cryptocurrency project, Hawk Coin, in early December, aiming to tap into the burgeoning crypto market. However, the launch was quickly met with severe criticism as the coin’s value plummeted almost immediately, raising alarm among investors and observers alike.
Backlash and Allegations
The backlash was swift, with prominent YouTube crypto analyst Coffeezilla openly criticizing the project during a live discussion with Welch and her team. He stated, “This is one of the most miserable, horrible launches I’ve ever seen in my life. I’ve been tracing it on chain for a while. You guys generated over $1M in fees while y’alls fans got rug-pulled. There were snipers but there was also insider trading directly linked to y’alls creator account.”
In light of the project’s failure, several investors filed a lawsuit against the team on December 19. Notably, Welch was not included as a defendant in this legal action, which raised questions about accountability and transparency within the crypto market.
Pokimane’s Perspective
During a recent episode of her Sweet n Sour podcast, Pokimane shared her thoughts on the situation alongside co-host LilyPichu. While she expressed empathy towards Welch, she emphasized the need for responsibility, stating, “I can’t hate on the influencer too much. She probably didn’t know what she was getting into. There were probably many older men who seemed responsible and excited about a project, and wanted to do something cool with her.”
However, Pokimane was clear that Welch’s role in promoting the memecoin was significant. After the initial turmoil caused by the project’s failure, Welch stepped away from social media but returned a day after the lawsuit was filed. In her comeback, she outlined her intentions to reveal the truth and hold those accountable. Yet, Pokimane noted that during this time, Welch “didn’t really take responsibility” for the financial losses endured by investors.
The Fallout and Future Implications
These developments have garnered considerable attention, with other notable figures in the gaming community, like OTK co-founder Asmongold, suggesting that Welch’s career could be adversely affected due to the fallout from the memecoin launch. The case raises broader questions about influencer accountability in the rapidly evolving landscape of cryptocurrencies.
For more insights on this discussion, you can check out the podcast episode, where the topic begins at 1:02.
Ultimately, the situation highlights the intricacies and risks associated with influencer-led cryptocurrency initiatives and stresses the importance of holding all parties accountable in the face of financial mishaps.
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