- Richard Heart responded to the SEC, saying he saved more people in crypto than the agency did.
- Heart is alleged to have used his crypto platforms to take advantage of his followers.
- The SEC filed a lawsuit against Heart, accusing him of raising $1 billion in an unregistered securities sale.
Crypto influencer and Hex founder Richard Heart responded to the Securities and Exchange Commission (SEC) after the latter filed a lawsuit against him. According to Heart, he has done more to protect crypto investors than the SEC did.
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In the video, Heart mentioned how he warned investors against BlockFi and Celsius — two crypto platforms that have gone bankrupt. In contrast, he said that the SEC did not make any effort in that regard.
Heart also likened himself to The Giving Tree, a popular character from a book of the same name. In the video, he said that he is someone who has done a lot of good for the crypto industry.
On the other hand, someone published a thread accusing Heart of doing shady transactions in crypto that benefited him. The posts even claimed Heart used Hex, a blockchain that he founded, as a means for him to get more money at the expense of his followers.
The SEC filed a lawsuit against Heart for selling tokens amounting to $1 billion — all of which the SEC considers unregistered securities. The lawsuit mentioned Hex, PulseX, and PulseChain as the crypto platforms that Heart used to obtain money illegally from customers.
At the moment, it is not sure whether Heart will plead guilty, aim to settle, or fight the SEC in court.
Meanwhile, HEX has made a 50% crash in the last 24 hours in the wake of the lawsuit announcement. In the last 7 days, HEX witnessed a decline from $0.02 to $0.01.
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