Influencers are stepping it up — they’re not just recommending investments, but actually creating their own cryptocurrencies. Last week, influencer Haliey Welch, aka Hawk Tuah girl, launched HAWK on the Solana blockchain platform. The coin immediately skyrocketed 900%, only for the price to crash 95% soon after, leaving many retail investors with huge losses. Some are calling it a classic pump-and-dump scheme while others are calling it a "rug pull," where creators build hype, cash out, and leave others stuck with unsellable tokens. It’s not new for influencers to promote investments (re: Elon Musk with Dogecoin), but now they’re getting into the game themselves, encouraging followers to buy in. That’s a big deal because over 80% of Gen Z and Millennials say influencer endorsements affect their decision to purchase something. Before you dive into any investment just because your favourite social media star says so, take a step back and do your research. Make sure it's a stable investment backed by financial experts, and that it doesn’t just benefit the influencer.