Memecoin $HAWK Plunges 95%, Sparking Legal Scrutiny

Internet personality Haley Welch’s meme coin, $HAWK, experienced a dramatic crash of 95% in just one day after launching on Solana blockchain. This sudden drop led to legal challenges and sparked concerns about the volatility within the memecoin market. Experts like Changpeng Zhao have warned of the risks associated with these high-risk investments, highlighting the need for clear regulatory frameworks to protect investors.