- News on the Blockchain
- Posts
- Social Media Influencer Haliey Welch Faces Lawsuit Over Failed Hawk Tuah Meme Coin
Social Media Influencer Haliey Welch Faces Lawsuit Over Failed Hawk Tuah Meme Coin
News on the Blockchain
December 20, 2024
In partnership with
FROM OUR FRIENDS @ VaultCraft
VaultCraft launches V2, TVL skyrockets above $100M
VaultCraft launches V2, partners with Safe, and secures $100M+ in Bitcoin
Matrixport, Asia’s leading crypto providers, commits $100M+ in Bitcoin
OKX Web3 to launch Safe Smart Vaults with $250K+ in rewards
🌍 Daily Crypto Market Overview
Global Stats:
Cryptocurrencies: 2.4M+
Exchanges: 772
Market Cap: $3.2T (-9.77%)
24h Volume: $305.6B (+15.83%)
Bitcoin Dominance: 58.4% (+1.28%)
Ethereum Dominance: 12.0%
ETH Gas Price: 34.36 Gwei
Fear & Greed Index: 62/100 (Greed)
🪙 Top 5 Cryptocurrencies by Market Cap:
Name | Price | 24h Change | Market Cap | 24h Volume |
|---|---|---|---|---|
Bitcoin (BTC) | $94,875.85 | -7.36% | $1.88T | $106.9B |
Ethereum (ETH) | $3,222.05 | -13.09% | $388.1B | $68.4B |
Tether (USDT) | $0.9984 | -0.10% | $140.4B | $259.7B |
BNB (BNB) | $638.91 | -8.94% | $92.0B | $3.0B |
Solana (SOL) | $183.55 | -12.82% | $88.0B | $9.7B |
💹 Market Highlights:
Total DeFi Volume: $20.46B (6.70% of total market volume)
Stablecoins Volume: $285.71B (93.49% of total market volume)
Coin with Highest % Change: DOGE (-20.69%)
📈 Preview On Today’s News:
- Social Media Influencer Haliey Welch Faces Lawsuit Over Failed Hawk Tuah Meme Coin
- Craig Wright Sentenced to One Year in Prison for False Bitcoin Claims
- Hong Kong SFC Expands Virtual Asset Trading Platforms to Strengthen Crypto Regulation
Keep reading below for more!
Today’s News:
1)
Social Media Influencer Haliey Welch Faces Lawsuit Over Failed Hawk Tuah Meme Coin
Haliey Welch, widely recognized as the 'Hawk Tuah Girl,' has been sued for her involvement in the Hawk Tuah cryptocurrency project, as reported by Newsweek. The lawsuit, initiated on December 19, 2024, accuses Welch of unlawfully promoting and selling the $HAWK meme coin on the Solana platform, which saw its value crash by 95% mere hours after its launch. This legal action follows Welch's swift rise to fame and her subsequent efforts to expand her brand through a podcast and merchandise tied to the Hawk Tuah identity. Despite 2024 being a significant year for the cryptocurrency market, with Bitcoin reaching unprecedented six-figure valuations, Welch's case serves as a cautionary tale about the vulnerabilities and potential pitfalls within the rapidly evolving crypto landscape.
Legal Action Against Influencer: Haliey Welch is being sued for the unauthorized promotion and sale of her $HAWK meme coin, which drastically lost 95% of its value shortly after launch on the Solana blockchain.
Crypto Market Insights: The lawsuit underscores the importance of vigilance in the booming 2024 cryptocurrency market, highlighted by Bitcoin's record-breaking six-figure surge amid increasing regulatory scrutiny.
2)
Craig Wright Sentenced to One Year in Prison for False Bitcoin Claims
Craig Wright, who falsely claimed to be Bitcoin's creator Satoshi Nakamoto, has been sentenced to one year in prison for contempt of court after filing a $1.2 trillion lawsuit against Jack Dorsey’s company, Block. Wright gained notoriety by asserting that he authored the 2008 Bitcoin White Paper, a claim that was debunked by the London High Court in May 2024, which also revealed falsified documents supporting his assertion. His lawsuit was deemed a violation of an injunction preventing litigation based on his Satoshi claim, leading the Crypto Open Patent Alliance to challenge his ability to sue Bitcoin developers. This sentencing comes amid a pivotal year for Bitcoin, which has surpassed six-figure valuations and introduced the first crypto-based ETF in the United States, solidifying its role in global finance despite ongoing uncertainties about its origins.
False Claims and Legal Consequences: Craig Wright was sentenced to one year in prison for contempt of court after his unfounded lawsuit against Block, stemming from his deceitful claim of being Bitcoin’s creator, which was proven false by the London High Court.
Bitcoin's Milestones in 2024: Despite the controversy surrounding Wright, 2024 marked significant achievements for Bitcoin, including reaching six-figure valuations and the launch of the first crypto-based ETF in the U.S., reinforcing its importance in the global financial landscape.
3)
Hong Kong SFC Expands Virtual Asset Trading Platforms to Strengthen Crypto Regulation
The Hong Kong Securities and Futures Commission (SFC) has approved four new Virtual Asset Trading Platforms (VATPs), increasing the total number of licensed operators in the region to seven. This expansion underscores Hong Kong's commitment to creating a regulated and secure environment for digital asset trading. The newly approved firms—Accumulus GBA Technology (Hongkong), DFX Labs, Hong Kong Digital Asset EX, and Thousand Whales Technology (BVI)—must adhere to stringent compliance measures, including robust Know Your Customer (KYC) policies, cybersecurity protocols, and asset protection standards. The SFC’s proactive licensing approach aims to foster investor confidence, promote market growth, and position Hong Kong as a leading global crypto hub. Additionally, the SFC plans to establish a consultative panel in early 2025 to enhance collaboration between regulators and industry stakeholders, while implementing the OECD’s Crypto-Asset Reporting Framework by 2026 to combat cross-border tax fraud.
Regulatory Expansion: The Hong Kong SFC has licensed four new VATPs, bringing the total to seven, with a focus on strict KYC, cybersecurity, and asset protection measures to ensure a secure trading environment.
Global Crypto Leadership: These approvals support Hong Kong’s strategy to become a leading crypto-friendly jurisdiction, with plans for enhanced regulatory collaboration and international compliance frameworks by 2026.
