In an interview with Fortune, Welch insisted that her memecoin, named HAWK, is "not just a cash grab," but offered few details about how it could be used for more than speculation. In her distinctive Southern twang, Welch said explained she wants to change the public's view on crypto, though her manager, Jonnie Forster, interceded when asked about HAWK's valuation and legal uncertainty. "We don't want to break securities laws," Forster told Fortune. "We would say that we're almost, like, tokenizing, in a sense, Haliey's fan base."
Memecoins are cryptocurrencies that, true to their name, go viral among internet communities on platforms like Telegram and Discord, often based on fleeting moments like the right-wing mascot Peanut the Squirrel. In many cases, buyers rush into the coins and the price spikes-sometimes reaching market caps in the billions of dollars-until holders stampede to sell before the value plummets.
Hawking crypto, HAWK will likely find its place in a corner of the industry dominated by so-called 'degens'—short for degenerates, who delight in memes, trolling, and get-rich-quick schemes.
The world of memecoins seems a fitting place for Welch, whose TikTok video describing oral sex garnered millions of views and vaulted her to sudden stardom.
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