Hailey Welch’s newly launched $HAWK meme coin, based on her “Hawk Tuah” meme, experienced a dramatic rise and fall in value, plummeting from a $500 million market cap to $60 million within minutes. This sharp decline has been attributed to a “rug pull,” where insiders allegedly sold off large holdings, devaluing the coin for other investors. The incident sparked considerable online backlash, with some blaming Welch and others criticizing investors for their choices. Welch denies involvement in the coin’s management, stating its purpose was to connect with fans and combat unauthorized coins using her likeness.
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It absolutely boggles my mind how someone can climb the corporate ladder, become the CEO of a bank, and then fall victim to a simple scam like the Nigerian Prince scheme. It just goes to show that intelligence, or lack thereof, does not discriminate based on position or title. The fact that this ex-CEO fell for a cryptocurrency scam, stole money from his own bank, a church, and even his daughter’s college fund is beyond comprehension.
The sheer audacity and delusion of thinking that pouring more money into an investment to “unlock returns” is a legitimate strategy is mind-boggling. What’s even more alarming is the fact that this man was seen as a pillar of the community, preaching at his local church, and testifying before Congress.… Continue reading
John Q. Hosedrinker