Shopping Video Raises Eyebrows Amid SEC Lawsuit Against Richard Heart
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- SEC sues Hex founder Richard Heart for fraud; old TikTok video creates FUD over Twitter.
- Hex’s market cap dropped post-lawsuit to around $700 million with a slight rebound to $900M.
- Richard Heart’s new documentary highlights his controversial reputation, Ponzi scheme, and charismatic blockchain persona.
After the US Securities and Exchange Commission (SEC) sued HEX and PulseChain founder Richard Heart on July 31 for defrauding investors, he was found with a handful of shopping bags hoarding luxury Louis Vuitton products, according to a TikTok shared by Whale on Twitter.
However, another user swiftly clarified in the comment section that it was an old video from over a year ago. “FUD at its finest,” they added.
On July 31, the SEC charged Heart for improperly diverting millions of dollars from investors’ funds associated with unregistered cryptocurrency assets. The filing alleges that Hex should be classified as a security and asserts that it illicitly gathered over $1 billion…
The post Shopping Video Raises Eyebrows Amid SEC Lawsuit Against Richard Heart appeared first on Coin Edition.
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