Originally published on: December 07, 2024
Popular YouTube investigator Stephen Findeisen, also known as “Coffeezilla,” is speaking out against the frenzy of misleading headlines circulating about viral influencer Hailey Welch and her memecoin, HAWK. Following the controversial launch of this token, Coffeezilla took to Xpost on December 6 to address the misinformation being spread to his 638,900 followers.
Contrary to the sensationalized reports, Coffeezilla clarified that the team behind the memecoin only “presold a few million” to strategic advisers, some of whom allegedly sold their tokens early before others could purchase them. The scandal surrounding Welch’s Hawk Tuah memecoin intensified after its launch on December 5, causing a swift rise and fall in value due to alleged sniper activity and insider trading suspicions.
Misinformation has run rampant since the launch, with rumors of lawsuits and huge profits circulating online, most of which Coffeezilla has debunked as false. While he acknowledged the criticisms surrounding the meme coin, he emphasized sticking to verified facts, revealing that the team generated a few million dollars. He also disclosed that according to Welch’s lawyer, she has only received $125k and her tokens are set to unlock within a year.
Amidst speculation about the allocation of transaction fees and presale profits, Coffeezilla confirmed that no legal action has been taken against Welch yet, dispelling the misinformation surrounding potential lawsuits. Although the US law firm Burwick Law encouraged victims to seek legal counsel regarding the launch, Coffeezilla’s investigation aims to separate fact from fiction surrounding the controversial memecoin debut.
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