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The most recent StealthEX partner, Pago Capital, has developed an efficient mobile application that connects consumers with physical and online merchants.
The post StealthEX Partners with Pago Capital for Seamless Crypto Payments first appeared on StealthEX.
In its latest crackdown on crypto exchanges in the United States, the Securities and Exchange Commission (SEC) has charged Hex’s Founder, Richard Heart, also known as Richard Schueler, with raising over $1 billion through ‘unregistered offerings of crypto asset securities’. The US securities watchdog filed the charges in a district court in New York.
Today we charged Richard Heart (aka Richard Schueler) and three unincorporated entities that he controls, Hex, PulseChain, and PulseX, with conducting unregistered offerings of crypto asset securities that raised more than $1 billion in crypto assets from investors.
— U.S. Securities and Exchange Commission (@SECGov) July 31, 2023SEC Alleges Misappropriation
According to the SEC, Heart raised the funds through Hex, which is an entity he marketed as offering the first high-yield ‘blockchain certificate of deposit’, starting in 2018. He also allegedly obtained the funds for the development of PulseChain, a supposed crypto asset network, and PulseX, the network’s crypto asset trading platform.
SEC claimed that all three firms are unincorporated entities controlled by Heart. Through the entities, the Hex Founder allegedly offered investors the exchange of their digital assets for PLS and PLSX, the native tokens of PulseChain and PulseX.
“From at least December 2019 through November 2020, Heart and Hex allegedly offered and sold Hex tokens in an unregistered offering, collecting more than 2.3 million Ethereum (ETH), including through so-called ‘recycling’ transactions that enabled Heart to surreptitiously gain control of more Hex tokens,” SEC explained in a statement. “The complaint also alleges that, between at least July 2021 and March 2022, Heart orchestrated two additional unregistered crypto asset security offerings that each raised hundreds of millions of dollars more in crypto assets.”
Furthermore, SEC claimed that Heart and PulseChain misappropriated at least $12 million of investor funds. Heart allegedly spent the amount on luxury items such as sports, cars, and watches. He also purchased “a 555-carat black diamond known as ‘The Enigma’ – reportedly the largest black diamond in the world,” the financial markets supervisor added.
??BREAKING: SEC CHARGES FLAMBOYANT HEX FOUNDER RICHARD HEART FOR MISAPPROPRIATING MILLIONS IN $1 BILLION CRYPTO RAISEThe SEC has charged Richard Heart, the founder of one of Crypto's most controversial projects and the owner of a plethora of luxury goods, including the world's… pic.twitter.com/7k3mp1j8ze
— Mario Nawfal (@MarioNawfal) July 31, 2023Additionally, SEC maintained that Heart designed and promoted a so-called ‘staking’ feature for Hex tokens, claiming that they will deliver up to 38% in returns. And, as part of an attempt to evade US securities law, Heart allegedly called on investors to ‘sacrifice’ instead of ‘invest’ their crypto assets in exchange for PLS and PLSX.
“[SEC’s] action seeks to protect the investing public and hold Heart accountable for his actions,” Eric Werner, Director of the SEC's Fort Worth Regional Office, stated in the statement.
War against Crypto Exchanges
SEC’s action against Heart and his companies follows the regulator’s ongoing legal battle against Binance, the world’s largest crypto exchange, and Coinbase, the biggest digital asset trading platform in the United States. The watchdog claimed that both platforms are unregistered and offer crypto asset securities. In addition, SEC accused Binance of commingling clients’ funds with company resources.
However, earlier this month, digital asset firm, Ripple secured a partial victory against the regulator after a US court ruled that XRP’s token sale to retail investors on public exchanges did not violate the country’s securities law, Finance Magnates reported.
New Zealand's FMI standards; ICE delists Bakkt's contracts; read today's news nuggets.
This article was written by Solomon Oladipupo at www.financemagnates.com.
Richard Heart, the creator of the Hex and PulseChain, is now facing charges of securities fraud for unregistered securities sale.
The post Hex Price Dumps as US SEC Accuses Creator of Defrauding Investors appeared first on BitPinas.
Richard Heart and his crypto entities Hex, PulseChain, and PulseX face a billion-dollar lawsuit from the US SEC over allegations of unregistered securities sales and fraud.
The post Hex, Pulsechain Prices Dump as US SEC Accuses Its Creator Richard Heart of Defrauding Investors appeared first on BitPinas.
The U.S. Securities and Exchange Commission (SEC) filed a lawsuit Friday against Richard Schueler, known as Richard Heart, and his companies Hex, Pulsechain, and Pulsex, alleging they raised more than $1 billion through unregistered securities offerings. SEC Lawsuit Accuses Richard Heart of Running Unregistered Securities Offerings The SEC complaint alleges that beginning in December 2019, [...]
The post SEC Files Lawsuit Against Richard Heart and Companies Hex, Pulsechain, and Pulsex appeared first on Crypto Breaking News.
The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Richard “Heart” Schueler and crypto projects HEX, PULSECHAIN, and PULSEX. According to a document filed with a court for the Eastern District of New York and shared on X by economist Alex Krüeger, the regulator is violating U.S. securities laws. As of this writing, [...]
The post Breaking: HEX Token Plummets 25% Following SEC Lawsuit Against Founder Richard Heart appeared first on Crypto Breaking News.
The United States Securities and Exchange (SEC) has filed a lawsuit against Richard Schueler, better known in the crypto space as Richard Heart, for alleged unregistered offerings of three tokens. In a July 31 filing in U.S. District Court for the Eastern District of New York, the SEC claimed Heart had raised more than $1 [...]
The post SEC files complaint against Hex founder for allegedly offering unregistered securities appeared first on Crypto Breaking News.
Win a share of 8M $FLOKI in Easter Egg Hunt! Solve the secret word & join the fun. Good luck! ??
The post Join StealthEX Easter Egg Hunt & Win from 8M $FLOKI Prize! first appeared on StealthEX.
Ethereum-based Hex’s (eHEX) market capitalization plummeted by more than $1 billion after Richard Heart, the controversial figure behind the project, described it as an illegitimate version. Heart’s controversial statement In an extensive Mar. 10 post on social media platform X (formerly Twitter), Heart renounced eHEX, affirming that only the HEX on Pulsechain was genuine. According […]
The post Over $1 billion wiped off HEX’s valuation following Richard Heart’s disparaging remarks appeared first on CryptoSlate.
In a recent development, a United States judge has decided to dismiss a fraud lawsuit filed by the Securities and Exchange Commission (SEC) against the founder of the cryptocurrency HEX. This decision comes as a significant victory for the crypto community and raises questions about the regulatory environment surrounding digital assets. The lawsuit, which alleged [...]
The post US Judge Dismisses SEC Fraud Lawsuit Against Hex Founder Richard Heart appeared first on Crypto Breaking News.
Learn to buy HEX coin effortlessly with our guide, exploring its background, benefits, and potential as an investment.
The post Where and How to Buy HEX Coin: A Comprehensive Guide first appeared on StealthEX.
AMA Recap: Kaspa Coin x StealthEX | GHOSTDAG protocol, future plans, privacy, and more discussed by Bubblegum Lightning.
The post Recap of Exclusive AMA: Kaspa Coin x StealthEX first appeared on StealthEX.
Discover trustworthy ICOs and crypto projects on ICO Hot List, the comprehensive platform offering in-depth analysis.
The post StealthEX Is Now Featured on ICO Hot List first appeared on StealthEX.
Blockchain network Hex (HEX) has seen around $4 billion wiped from its market cap over the past week, according to CryptoSlate data. Hex’s market cap dropped to as low as $2.41 billion on May 25 from a peak of $6.62 billion recorded on May 20, according to CryptoSlate’s data. During this period, the Richard Heart-led […]
The post Hex market cap loses $4 billion in a week appeared first on CryptoSlate.
Instant crypto exchange StealthEX partners with DeFi 3.0 protocol YSL.IO for seamless integration into ChainZap
The post StealthEX Has Been Integrated into ChainZap by YSL.IO first appeared on StealthEX.
Crypto is unstable, exchange rate fluctuations happen quite often — get what you want with exchanges at a fixed rate
The post Fixed Exchange Rates on StealthEX — Get Exactly What You Want first appeared on StealthEX.Animoca Brands and Hex Trust have officially launched its custodial wallet solution to focus on onboarding more users.
Salmon Wallet integrated StealthEX crypto exchange to help its users swap cryptocurrencies within their interface
The post StealthEX Launches Cross-Chain Swaps with Salmon Wallet first appeared on StealthEX.
What is the difference between custodial and instant crypto exchange — find out more about the world of crypto swappers
The post What Is the Best Instant Crypto Exchange for You? first appeared on StealthEX.
Akita DAO AMA recap: Learn everything you need about the new token #HACHI and Akita crypto project.
The post Recap of Exclusive AMA: Akita DAO x StealthEX first appeared on StealthEX.World Crypto Global opens the door to digital freedom for everyone.
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