Cryptocurrency
Investors have filed a lawsuit against entities associated with the cryptocurrency launched by social media personality Hailey Welch, widely known as the “Hawk Tuah Girl.” The legal filing stemmed after the memecoin Hawk Tuah, known as $HAWK, saw its value plummet by over 95% on December 4, 2024, the day of its release https://gamble-online-aus.org/.
Named in the suit are: Tuah The Moon Foundation, which was used to handle money taken in from the sale of the meme coin, and the coin’s creator, OverHere Ltd and its executive, Clinton So and the meme coin’s Los Angeles-based promoter, Alex Larson Schultz.
Welch posted on X, formerly Twitter: “I am fully cooperating with and am committed to assisting the legal team representing the individuals impacted, as well as to help uncover the truth, hold the responsible parties accountable, and resolve this matter.”
The nature of Welch’s cooperation with Burwick Law is also unclear, but presumably she has a digital paper trail to prove that she was deceived or misadvised by her crypto partners — if indeed that is the case. Such material would likely bolster the lawsuit’s allegations of securities violations.
How to invest in cryptocurrency
Investing in any asset, such as stocks or bonds, involves assessing its risk-return. In the case of crypto, the risk-return level is significantly higher than it is with other asset classes. This doesn’t make it a bad investment, especially because of the potential that crypto investments can have, but it does make thorough research more important than ever.
“By eliminating the reliance on a central authority and operating through a network of distributed nodes, blockchain started a new era of security and transparency,” Matveev says. “This design makes it more resilient against cyberattacks, system crashes and human errors compared to centralized systems.”
Some investors buy crypto because they believe it will become more widely accepted in the future. Bitcoin, for example, was created as a response to the 2008 financial crisis amid concerns about the reliability of the mainstream banking sector.
Investing in any asset, such as stocks or bonds, involves assessing its risk-return. In the case of crypto, the risk-return level is significantly higher than it is with other asset classes. This doesn’t make it a bad investment, especially because of the potential that crypto investments can have, but it does make thorough research more important than ever.
“By eliminating the reliance on a central authority and operating through a network of distributed nodes, blockchain started a new era of security and transparency,” Matveev says. “This design makes it more resilient against cyberattacks, system crashes and human errors compared to centralized systems.”
What is cryptocurrency
If you’re trying to make a payment in cryptocurrency, you’ll most likely need a cryptocurrency wallet. One type of wallet is a “hot wallet,” a software program that interacts with the blockchain and allows users to send and receive their stored cryptocurrency.
The race to solve blockchain puzzles can require intense computer power and electricity. That means the miners might barely break even with the crypto they receive for validating transactions after considering the costs of power and computing resources.
Bitcoin remained the only cryptocurrency until 2011. Then Bitcoin enthusiasts started noticing flaws in it, so they decided to create alternative coins, also known as altcoins, to improve Bitcoin’s design for things like speed, security, anonymity, and more.
Litecoin (LTC) was launched in 2011 by Charles Lee. Like Bitcoin, Litecoin employs the proof-of-work consensus mechanism. Though Litecoin is both faster and cheaper than Bitcoin, it has not been as widely adopted as Bitcoin and therefore has less value.