SEC Ends Investigation into Solana's Meme Coin, Sources Say

SEC Drops Probe into Meme Coin Hawk-Tuah, Girl

The Securities and Exchange Commission (SEC) has dropped its investigation into the meme coin Hawk-Tuah, a cryptocurrency that gained notoriety for its eccentric marketing and associations with pop culture icons.

According to a report from TMZ, the SEC had been probing the coin and its creators, including a 20-year-old girl from California, over allegations that they had violated securities laws by promoting the coin as an investment opportunity.

However, sources close to the investigation told TMZ that the SEC has decided to close the case and not bring any charges against the individuals involved.

The news comes as a surprise to many in the crypto community, who had been following the drama surrounding Hawk-Tuah. The coin gained a significant following after its creators began promoting it as a way to "get rich quick" and associate it with popular memes and celebrities.

The SEC's investigation into Hawk-Tuah began earlier this year, after the coin's value skyrocketed to over $1,000. At the time, many experts warned that the coin was a classic example of a "pump and dump" scheme, where the creators would artificially inflate the coin's value before selling their holdings and leaving investors with significant losses.

Despite the SEC's decision to drop the case, many experts are still warning investors to be cautious when it comes to meme coins like Hawk-Tuah. "These coins are often created to take advantage of unsuspecting investors and can be extremely risky," said one expert. "Investors should always do their due diligence and be wary of any opportunity that seems too good to be true."