Richard Heart: A comprehensive Overview of the Crypto Influencer, Investor, Philanthropist, and SEC Target.

“The Highest of Stakes” Has Premiered! Who is This Guy Richard Heart?

Who is Richard Heart, also known as Richard Schueler, is an American serial entrepreneur, cryptocurrency investor, philanthropist, and social media personality – he is currently featured in a documentary film the “The Highest of Stakes” – which premiered on the 4th/08/2023. He is the founder of the cryptocurrency projects Hex, PulseChain, and PulseX. Richard is known for his outspoken opinions on cryptocurrency and has been in the crypto space since the early days when full blocks of Bitcoin could be mined on personal computers.

For me, Richard is the man who delivered a product that changed thousands of lives for the better. He launched HEX in late 2019 which we had the opportunity to participate in from day one. The early days were a minefield of hate from the Bitcoin Maxi community. Richard went toe to toe with these toxic personalities and showed the world what a small group of very vocal followers can do on social media.

The HEX community was the most cohesive crypto community that I had ever seen and I still am proud to have Richard Heart as the leader. Many of his ideals about the future of the world are ideas that my family supports. For example, be your own bank, live a life of freedom, travel where you please, and do not restrict dissenting opinions.

The fact that so many former military members were attracted to the Richard Heart ecosystem was always intriguing to me. I personally felt like I had a commanding officer that had his shit together. My family felt safe in the direction he was taking the community.

Sure there were times where I felt Richard went off course. The outrage marketing was a perfect example of, please Richard stop, but we can’t always agree 100% with another persons decision. I for one believe that if the outrage marketing never happened, HEX would have continued to be under the radar of the SEC.

Richard Heart Cryptocurrency Products.

What is Hex, Pulse Chain, and PulseX?

Hex is a cryptocurrency that was launched on the Ethereum blockchain in 2019 as a smart contract. It launched on the Ethereum blockchain as a finished product. In its initial days, Hex was given out for free to all who owned Bitcoin and they would claim it on the Hex website. It is the world's first high-interest blockchain certificate of deposit. The project's website states that users can earn interest by staking their Hex tokens for higher rewards by staking larger amounts for longer periods.

PulseChain is a state-of-the-art fork or copy of the Ethereum 2.0 staking protocol created to be a faster and more efficient version of the Ethereum blockchain with the aim of offering faster transaction speeds and lower fees than Ethereum. It is also one of the biggest airdrops of all time ever created because every erc20 that existed is copied over to the PulseChain blockchain.

PulseX is a decentralized exchange (DEX) that was developed by the PulseChain team and a fork of the Uniswap (DEX). The exchange allows users to trade cryptocurrencies and native PulseChain ecosystem tokens. The project's website states that it offers lower fees and faster transaction speeds than other DEX’s.

Both PulseChain and PulseX were projects launched as social experiments of to raise awareness and solidarity in the Hex ecosystem. They both have a very interesting social element that speaks to the selflessness and need to see good being done in the crypto world. They had a sacrifice phase where participants sacrificed to medical research foundation called SENS which received about $27 million dollars for the PulseChain sacrifice and Freedom of Speech and for the PulseX Freedom of Movement sacrifice undertaken during the COVID19 pandemic.

Controversies and Legal Issues for Richard Heart and HEX.

In late 2022, Richard Heart and HEX became the subject of an SEC investigation following allegations that the project was a Ponzi scheme. The SEC sent subpoenas to Richard Heart and his companies, seeking information about the unregistered offerings of digital assets and other potential securities law violations. The SEC also filed a lawsuit against Richard Heart in August 2023, alleging that he violated the registration provisions of the federal securities laws by offering and selling HEX tokens without registering them with the SEC.

Overall, Richard Heart and his crypto projects have faced significant legal and regulatory scrutiny, with allegations of unregistered offerings, securities fraud, and violations of the Securities Act of 1933. In response to these allegations, Richard Heart has since March 2023, abandoned his outrage marketing tactics and transitioned back to the humble Richard Heart with reduced streaming and talking engagements. He is currently active on twitter as he prepares to face the allegations brought against him by the SEC.

Accusations of Fraud

Richard Heart, the founder of Hex, PulseChain, and PulseX, has been accused of fraud and wrongdoing by the U.S. Securities and Exchange Commission (SEC) for conducting unregistered offerings of crypto asset securities that raised more than $1 billion from investors. The SEC alleges that Heart illegally raised funds from investors through three different unregistered securities offerings.

Heart has been charged with misappropriating millions of dollars raised from investors, spending investor funds on luxury goods, including a McLaren and Ferrari sports cars, and four Rolex watches costing $3.02 million. He is also accused of purchasing "The Enigma," a 555-carat black diamond costing $3.16 million.

The SEC has accused Heart of violating antifraud provisions of the federal securities laws and seeks to obtain permanent injunctions, disgorgement of ill-gotten gains with prejudgment interest, and civil penalties against him and the three unincorporated entities he controls.

Heart has denied the allegations and has stated that he will fight the charges. He has also stated that he believes that the SEC's allegations are without merit and that he has not violated any securities laws.

Where Do We Go From Here?

Overall I think the case that the SEC has against Richard Heart is bollocks! As far as I know the funds that were raised during the two sacrifices were never misappropriated. I personally believe that Richard will fight these flimsy allegations. Even if he chooses to settle, that will just pave the way for a Pulsechain Bull Run.

I have been told that I am smoking hopium and that HEX, Pulsechain, and Pulsex are dead and will not go anywhere. Well, I disagree wholeheartedly. I believe the case the SEC filed against Richard Heart is the best marketing tool he could ever ask for, especially just before the documentary, “The Highest of Stakes” launched.

Over the next few weeks we could have some trying times. There is one huge caveat. That is the fact that many projects are building tools in the Pulsechain ecosystem that will continue to improve how we use it day to day. I for one am not worried one bit about the future of all of the Richard Heart projects.