Billionaire investor and television personality Mark Cuban on Monday lent support to ‘Hawk Tuah’ girl Haliey Welch in the recent meme coin fiasco, stating that she ended up in an unfortunate situation.

What Happened: During a podcast with content creator Jules Terpak, Cuban empathized with Welch and said he doesn’t blame her for the controversy.

“It was obvious; it wasn’t, you know, intrinsic to her. It wasn’t something she fully understood, but she trusted the people around her,” the “Shark” said. “I’m not mad at Haliey at all. I feel bad for her that she got put in this position.”

See Also: Pudgy Penguin Token Launches At $2 Billion Valuation, Could Land ‘Between Shiba Inu And Dogecoin,’ Trader Says

Cuban added that mistakes happen when people move forward on things and they learn from them. “She’ll be fine and you know what’s done is done.”

On a personal level, Cuban made it clear that he is not a fan of meme coins, describing them as a “game of musical chairs with money.”

“It’s just hustle. There’s no there there, and so it’s like a game of musical chairs with money and some people will make money and some people won’t.”

Why It Matters: Welch recently launched a Solana (CRYPTO: SOL)-based meme coin HAWK, that quickly gained a market valuation of almost $425 million before plummeting to $30 million in a jiffy. This rapid pump and dump led to accusations of insider trading against Welch, with many victims contemplating legal action. Welch denied wrongdoings on her part, stating that no free tokens were given to anyone.

Shytoshi Kusama, the pseudonymous lead of the Shiba Inu (CRYPTO: SHIB) ecosystem, also distanced themselves from the controversial meme coin. Kusama revealed that they were approached by Welch’s team to promote the coin but declined the offer.

 Welch went viral earlier this year for her quirky catchphrase “Hawk Tuah” during a street interview. The video was posted online and made waves on social media, giving Welch the nickname “Hawk Tuah Girl.”

Image via Shutterstock

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.