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Musk is now the alpha to Donald the power-Beta and his 15 hour workweek [1]

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Date: 2024-12-25  

Of Course the “Hawk Tuah” Girl’s Fame Would End This Way

so too did the Hawk Tuah Girl test the Gods of the Zynternet with her own hubris by launching a cryptocurrency.

Earlier this month, Welch released a memecoin called HAWK, the latest celebrity-sponsored cryptocurrency with absolutely no point except to help turn cultural capital into real capital. “Who doesn’t love a good meme?” Welch wrote in a press statement at the time. “Becoming part of meme culture interested me in the world of crypto, and I’ve learned so much along the way. Launching my own token feels like the perfect next step—not just to create something meaningful for my fans but also to protect my community from scammers.”

But protect her community from scammers she did not! The coin shot above $500 million in market capitalization when it launched, but when retail investors tried to buy in, the coin plummeted, losing 95 percent of its value, according to Fortune, which noted that insiders pocketed $3 million in the process. In the crypto industry, this is called a rug pull, where insiders convince people to invest before pulling out their money, making a buck, and watching the house of cards tumble.

Bloomberg writer Matt Levine blamed the victims. “People are complaining that this is a ‘rug pull’ or a ‘pump and dump,’ but I cannot understand what different thing they thought would happen.” That’s fair.

But the victims are blaming the people behind the HAWK coin project—also fair! In a lawsuit filed in federal district court in Brooklyn, New York, a group of investors sued project promoter Alex Larson Schultz, the crypto company OverHere Limited, which launched the coin, OverHere’s founder Clinton So, and the Cayman Islands–based Tuah the Moon Foundation. The plaintiffs allege that HAWK was, in fact, an unregistered security and broke the law by not registering with the U.S. Securities and Exchange Commission, and seek $151,000 in collective damages.

x I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community. I am fully cooperating with and am committed to assisting the legal team representing the individuals impacted, as well as to help uncover the… — Haliey Welch (@HalieyWelchX) December 20, 2024

slate.com/...

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[1] Url: https://www.dailykos.com/story/2024/12/25/2288170/-Donald-the-power-Beta-and-his-15-hour-workweek-now-that-Elmo-is-his-Regent-alpha

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