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Borderless GC George Georgiades Featured in Law.com on Legal Battle Following $440 Million Collapse of Hawk Tuah Girl Meme Coin
Dec 19, 2024
December 19, 2024 – The New York Law Journal published an article titled ‘Hawk Tuah Girl’ $440 Million Meme Coin Collapse Sparks Legal Battle, discussing the dramatic fall of the $HAWK cryptocurrency inspired by viral social media personality Haliey Welch. The token surged to a market cap of $491 million before plummeting by more than 90%, resulting in substantial financial losses for early investors. A lawsuit filed in Brooklyn accuses the token's founders of insider trading and abandoning the project after inflating the price.
The article explores Welch's significant social media influence, which was leveraged to promote the token, and highlights how the token's success was largely dependent on her and her team’s efforts. The lawsuit claims that the $HAWK token displayed characteristics of an unregistered security, raising concerns of securities violations.
George Georgiades, General Counsel at Borderless.xyz, was quoted in the article, providing insight into the challenges of regulating emerging digital assets like meme coins. He emphasized the need for a comprehensive regulatory framework to prevent market abuse, insider trading, and other misconduct, particularly as many newer cryptocurrencies fall outside of traditional securities laws.
For the full article, please visit New York Law Journal.
