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. Related Reading: Is Another Bitcoin Rally Coming Soon? This Pattern May Say So As of this writing, HEX is feeling the heat from the lawsuit. The token plummeted over 11% in today’s trade session alone as a direct impact of this development. It continues a downside trend that worsened over the past two weeks when the cryptocurrency saw a 23% loss. SEC Fails With XRP But Goes After HEX Per the document, the regulator claims that Richard Heart raised over $1 billion by allegedly offering unregistered security, the token HEX. The crypto founder supposedly offered the token in December 2019 and for the following three years to “retail investors in the U.S. and abroad.” The SEC claims that Heart operates via PulseChain and PulseX, par ..
Support the originator by clicking the read the rest link below.
