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Comment: Far too many self-sources, cryptocurrency sources and now-deleted sources remain for serious consideration. I advise that you restrict the sourcing purely to high-quality mainstream RSes and see if you can write an article sourced solely to those - David Gerard (talk) 19:45, 15 June 2024 (UTC)
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Richard Heart (born Richard James Schueler) is an American cryptocurrency founder. Heart created the HEX cryptocurrency in 2019.[1] In 2023 he launched three more cryptocurrencies: Pulsechain and PulseX, forks of Ethereum and Uniswap, respectively, and the Incentive token.[2][3] He is currently believed to reside in Helsinki, Finland.[4]. In February 2022, the largest polished black diamond in the world, The Enigma (diamond), was sold for £3.16 million by Sotheby's to an undisclosed buyer, later revealed as Richard Heart.[5]
Early life and education
editRichard Heart was born on October 9, 1979, in Pittsburgh, Pennsylvania.[6]
Career
editHeart's career began with the Florida home-based car audio system business, Audio Ecstasy, Inc,[7] He later founded a marketing business, and in 2002 incurred a default judgement and fines from a court in Washington, US, for sending unsolicited commercial email.[8] As Heart expanded his business operations to Panama but eventually returned to the U.S. after facing legal issues related to his business dealings there.[9][better source needed]
He later wrote a self-help book, sciVive, which was made available for free online in both text and audio versions.[10][11]
On December 2nd 2019, Heart launched the cryptocurrency HEX, which bills itself as the first blockchain certificate of deposit by introducing a time-lock and allocating inflation to stakers instead of validators or miners.[12][13]
He later created PulseChain and PulseX. PulseChain, a full-state fork of Ethereum, received funds from over 40,000 cryptocurrency wallets.[14] PulseX, a fork of decentralized exchange Uniswap, was also launched under the PulseChain ecosystem. According to filings made by the U.S. Securities and Exchange Commission, collectively the two projects raised more than $1 billion in financing.[15]
In 2023, The Highest of Stakes,[16] a movie about Heart and HEX was released in cinemas in the USA and the U.K. It was later made available on AppleTV,[17] Amazon Prime Video, Google Play, YouTube, Vudu and many other outlets.[18]
The Highest of Stakes has received overwhelming reviews for its comprehensive coverage and unbiased storytelling. Critics have likened it to the "Tiger King of crypto," with its enthralling narrative captivating viewers. The film's ability to present a balanced view, allowing audiences to form their own opinions, has been particularly appreciated.[19]
In October 2024, Heart faced court hearing in New York related to a U.S. Securities and Exchange Commission (SEC) lawsuit. The SEC accuses Heart of raising over $1 billion through unregistered securities for his projects HEX, PulseChain, and PulseX, allegedly misusing investor funds for luxury purchases. Heart's defense argued these assets are decentralized technologies rather than securities, asserting they don't meet legal criteria as investments. This ongoing legal battle could impact the future of crypto regulation in the U.S.
Non-profit fundraising
editHeart created an initiative where donors to the SENS Research Foundation would receive cryptocurrency. Over $25 million was raised over 5 days.[citation needed]
Controversies and criticisms
editPopular cryptocurrency ranking website Coinmarketcap does not list any cryptocurrency founded by Heart on the homepage of its website. In September 2021, an Arizona resident took legal action against it, contending this caused HEX to trade at lower prices than it would have had it been listed accurately based on its market capitalization. The case was dismissed in February 2023.[20]
On July 31, 2023,[21] the U.S. Securities and Exchange Commission charged Heart with defrauding investors out of $12.1 million[22] and illegally raising more than $1 billion in unregistered cryptocurrency offerings to finance personal luxury goods purchases, including a 555.55-carat black diamond,[21] The Enigma, for $4.3 million in cryptocurrency, renaming it the "HEX.com diamond".[23][24]
References
edit- ^ "Hex (HEX): What It Is, History, and Concerns".
- ^ "What is PulseChain? A Guide to the Ethereum Hard Fork". Yahoo Finance. 28 September 2023.
- ^ "PulseX relevant details". 14 February 2022.
- ^ "SEC v. Richard J. Schueler" (PDF). SEC.Gov.
- ^ "The Enigma: Billion-year-old black diamond sold for £3.16m". BBC. Retrieved 2022-02-12.
- ^ Sharma, Ritika (August 2023). "Richard Schuele: Know the Founder of HEX and PulseChain". The Coin Republic. Archived from the original on 2 August 2023. Retrieved 2 August 2023.
- ^ Winner, Don. "Richard James Schueler - Friggin Spam King". Panama Guide. Archived from the original on 31 October 2017. Retrieved 2 August 2023.
- ^ "Free-speech group Peacefire.org wins a legal round in its fight against unsolicited e-mail, invoking Washington state's anti-spam law". ZDNet.
- ^ Rustin, Sats (31 May 2022). "Richard Heart The 'Spam King' – Full Story". Bitcoin News. Retrieved 2 August 2023.
- ^ "sciVive book" (PDF).
- ^ "sciVive audio book". YouTube.
- ^ "What Is Hex?". Investopedia.
- ^ https://finance.yahoo.com/news/hex-why-bitcoin-holders-care-120010630.html Yahoo Finance article about HEX / timelock explained
- ^ "Everything Blockchain Releases PulseChain Update". 28 July 2021.
- ^ "SEC Charges Hex Founder Richard Hear".
- ^ "The Highest of Stakes".
- ^ "The Highest of Stakes - Apple TV". 4 August 2023.
- ^ "The Highest of Stakes: Where to Watch and Why It's a Must-See". pulsecoinlist.com. Retrieved 2023-12-19.
- ^ "The Highest of Stakes: Where to Watch and Why It's a Must-See". pulsecoinlist.com. Retrieved 2023-12-19.
- ^ "Class Action Alleges CoinMarketCap.com, Binance Gamed Rankings".
- ^ a b "US SEC charges Youtuber Richard Heart with unregistered crypto offerings fraud". The Economic Times. 2023-07-31. ISSN 0013-0389. Retrieved 2023-08-11.
- ^ Stempel, Jonathan (31 July 2023). "US SEC says Hex crypto founder defrauded investors, spent money on 'Enigma' diamond". reuters. Retrieved 2 August 2023.
- ^ McKeever, Vicky (10 February 2022). "Billion-year-old black diamond bought with cryptocurrency for $4.3 million". CNBC. Retrieved 2 August 2023.
- ^ "The Enigma: Billion-year-old black diamond sold for £3.16m". BBC News. 10 February 2022. Retrieved 2 August 2023.