‘Hawk Tuah girl’ Haliey Welch — and her lawyer — explain memecoin dumpster fire

Haliey Welch, the viral prima amended known arsenic “Hawk Tuah girl,” has returned to the podcast sofa successful an effort to explicate what happened with the comparatively disastrous motorboat of her branded memecoin.

In the occurrence of “Talk Tuah,” leaked to X connected Friday, Welch and her lawyer attempted to explicate what happened behind-the-scenes.

At the clip of its launch, critics called the $HAWK token a pump-and-dump — it spiked to $500 cardinal full worth soon aft debuting, earlier dropping to $50 cardinal conscionable 30 minutes aft launch, leaving galore nationalist investors successful the lurch.

The token’s illustration since motorboat paints a stark picture.

That was the effect of poorly structured and managed back-end deals, according to details explained connected the podcast by Christian Barker, Welch’s lawyer.

Barker says Welch was to person $125,000 up beforehand and $200,000 for the usage of her representation and marque successful summation to 5% of its full supply, taxable to a one-year lockup.

“A batch of this accusation we recovered retired since the launch, ‘we’ arsenic successful Haliey’s internal, non-crypto team,” said Barker.

He explained that 17% of the token’s full proviso was pre-sold.

That benignant of marketplace proviso overhang tin beryllium the decease knell of a memecoin; investors with pre-public tokens volition often, and seemingly did, dump connected “retail” investors for precocious returns crossed small risk.

Barker said Welch and her squad were told those presale tokens would beryllium taxable to a one-month fastener connected sales, but that “it’s beauteous evident on-chain that didn’t happen.”

In addition, Barker revealed 80% of the token’s proviso is presently controlled by its developer, offering small anticipation to immoderate remaining holders of $HAWK for a instrumentality to its high-flying valuations without assurances successful the signifier of token locks from that developer.

In the aftermath of the episode’s leak, podcast impermanent FaZe Banks – brought connected arsenic a memecoin adept by Welch — claimed connected X that determination were stipulations to his quality connected the show.

He said those stipulations had not been met and that the episode’s leak itself was an effort to pump the terms of HAWK.

“We noticed a random spike successful measurement connected [$HAWK] [February 2] on with random messages asking america if we did the podcast,” Banks writes.

“Very clearly, her squad was not arsenic coagulated arsenic they claimed to be,” alleging further mishandling of the token.

“They wholly blew it and we called the occurrence disconnected close past and there,” helium said.

“Now today, the occurrence ‘randomly’ gets leaked. The terms of $HAWK is pumping and they wholly fucking fumbled the bag, yet again. What a fucking mess. Poor girl, it’s a wonderment however she recovered herself successful this presumption successful the archetypal place.”

Welch and her lawyer did not instantly respond to a petition for comment.

Speaking earlier successful the episode, Welch shared a portion of proposal she received from 1 of her podcast’s earliest guests, the rapper Wiz Khalifa:

“Don’t ever enactment your sanction connected thing you don’t understand.”