Part 4/9:
The Cryptocurrency Catastrophe
Haley touted her new venture, Hawk Coin, as a legitimate product that would pull in a host of non-crypto enthusiasts while boldly claiming it would unite her fanbase. This ambitious pitch painted a picture of a grand project, contrary to the lurking doubts of many within her community. Critics feared that this was just another pump and dump scheme.
Upon launch, Hawk Coin's initial success was alarming. The price surged by 900%, peaking at a market cap of $490 million, only to plummet by 90% shortly afterward. With this drastic decline, many would soon question the fundamental legitimacy of the project, opening a Pandora's box of allegations against Welch and her team.