Crypto Influencer Denies Manipulation Allegations in HAWK Token Issuance

In Brief:

Crypto influencer Haliey Welch and the HAWK team denied claims of market manipulation in the launch of the HAWK token.

Welch stated the team has not sold any tokens and implemented high fees to deter market sniping.

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Haliey Welch and the HAWK team refuted accusations that insiders controlled 96% of the token supply, asserting that the allocations adhered to the token's economic model. Welch emphasized that neither the team nor any influencers received free tokens, and token distribution followed a structured vesting schedule to ensure market fairness.

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Despite these reassurances, the token’s value skyrocketed shortly after launch but subsequently collapsed, leaving the current market cap at approximately $37M. Welch attributed the apparent clustering of tokens to deployments tied to economic principles rather than manipulation.

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The swift rise and fall of HAWK have drawn scrutiny, especially amid allegations that internal accounts made significant profits during the launch.

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HAWK's dramatic price volatility highlights the risks associated with meme coins and influencer-backed tokens. While Welch's team denies any wrongdoing, the incident underscores the importance of transparency and fair practices in token issuance to build trust in the crypto space.

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