According to Foresight News and reported by CNBC, entrepreneur Mark Cuban recently stated in an interview: "As the name suggests, meme coins are not meant to be taken seriously. Some may help investors earn quick profits, while others will lose value immediately. Meme is a ruckus. There's nothing there. So it's like a game of 'musical chairs' played with money. Some people will make money, and some won't." Cuban's response refers to the HAWK token's debut in early December. HAWK was initiated by 22-year-old Haliey Welch, whose 'Hawk-Twah' comments in a street interview went viral online, after which the token experienced a rug pull event. Investors filed a lawsuit against the organization behind HAWK on Thursday, claiming they failed to properly register the meme coin.