The US Commission of Securities and Commodity Exchanges (SEC) announced that Hawk Tuah Girl Hailey Welch has completed his investigation into the $ Hawk token. It was reported that no legal procedure has started about Welch during the investigation process. The sudden rise of the token in the market and the great collapse that followed, led to the start of the investigation process.
SEC Investigation Process
SEC launched a detailed investigation due to a serious decrease after the rapid increase in the $ Hawk token. The market value of the token showed a significant increase in a short time and then lost 90 percent value. These developments caused concern among investors.
Growing discussions pursued the investigation.
Hawk case
On the losses of investors, the lawsuits for the project responsible came up. Within the scope of the project, the allegations that the token was not subjected to appropriate arrangements were suggested. It was reported that cooperation between the relevant parties in the process.
Hailey Welch said he was in cooperation with the authorities during the investigation process.
Hailey Welch: “I have been in cooperation with all the authorities in the past months, and finally the work has been completed.”
Following this statement, Welch said he had relief about the process.
His lawyer James Sallah confirmed that SEC had closed the case and had no financial sanctions against him.
James Sallah: “SEC did not reach any findings about the case, we stated that this would not affect future activities.”
The conclusion of the investigation brought up the discussions of audit and regulation in the sector. Developments regarding the course of the lawsuits filed on the damages of investors and the audit processes shaping market expectations. The incident caused different opinions about the effectiveness of regulatory institutions. The SEC will aim to prevent fraud while supporting innovation with net crypto regulations in the next process.
The news gives the impression that the parties are clarified as a result of the coordination of the authorized authorities. The monitoring of audit processes and regulations applied may lead to more careful examination of similar situations in the future. It carries important clues to sector dynamics by providing information about developments, market risks and regulatory measures.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
