Richard Heart Wins Against SEC!
Judge Dismisses SEC's Claims Against Richard Heart, Founder of HEX, PulseChain, and PulseX
The SEC case accused Schueler of unregistered offerings and fund misappropriation. On February 28, 2025, Judge Carol Bagley Amon dismissed all claims, ruling his projects aren't securities. This win affirms the decentralized nature of HEX, PulseChain, and PulseX, boosting the crypto community's confidence in innovation.
Key Points
Richard Heart, founder of HEX, PulseChain, and PulseX, won a case against the SEC on February 28, 2025, with all claims dismissed by a federal judge.
The victory suggests that HEX, PulseChain, and PulseX are not securities, boosting confidence in decentralized finance.
Schueler has a background in entrepreneurship, with early ventures in audio equipment and internet marketing, and a passion for technology and anti-aging.
His old blog, archived on the Wayback Machine (Richard Schueler's Old Blog), highlights his high IQ and diverse interests.
Background and Early Career
Richard James "Heart" Schueler, known for his nickname "Heart," has a storied background that began long before his foray into cryptocurrency. With an IQ of 147, he was part of gifted programs and excelled in mathematics and writing competitions during his school years. His early career included working at his father's air conditioning company and founding Audio Ecstasy, Inc., in 2000, followed by InternetMarketingMasters.com in 2001. His old blog, archived on the Wayback Machine (Richard Schueler's Old Blog), reveals his interests in distributed computing and anti-aging, reflecting a deep commitment to technological and human advancement. Schueler's extensive travels and personal challenges, such as a tragic experience in Panama involving fake passports, shaped his resilient entrepreneurial spirit.
Founding HEX and Expanding to PulseChain and PulseX
In 2019, Schueler launched HEX, an ERC20 token on the Ethereum network, designed as a blockchain-based certificate of deposit. HEX allows users to stake tokens for rewards, with longer stakes earning higher returns, aiming to outperform traditional financial products (HEX Official Website). Building on this success, he introduced PulseChain, a layer-1 blockchain intended to be a more efficient and scalable version of Ethereum, with lower fees and better energy efficiency (PulseChain Official Website). PulseX, a decentralized exchange on PulseChain, facilitates trading of PRC20 tokens, enhancing liquidity and accessibility (PulseX Official Website).
The SEC Case and Recent Victory
The SEC accused Schueler of conducting unregistered offerings of crypto asset securities and misappropriating funds, targeting HEX, PulseChain, and PulseX. However, on February 28, 2025, Judge Carol Bagley Amon dismissed all claims, a decision celebrated in Schueler's X post (Richard Heart's X Post), stating it as a win for cryptocurrency and Donald Trump's vision for America. This ruling suggests the court found these projects do not meet the securities definition, validating Schueler's vision for decentralized finance and potentially easing regulatory pressures on the crypto industry.
Implications and Future Outlook
This victory is not just a personal triumph for Schueler but a milestone for the crypto community, likely encouraging further innovation in blockchain technology. It reinforces the argument that decentralized projects can operate without being classified as securities, fostering an environment where creators can build and scale freely. Schueler's future plans may involve expanding PulseChain and PulseX, leveraging this legal clarity to attract more developers and users.
Survey Note: Richard Heart's Journey and Legal Victory
Richard James "Heart" Schueler's recent legal victory against the Securities and Exchange Commission (SEC) on February 28, 2025, marks a pivotal moment in the cryptocurrency landscape, particularly for his projects HEX, PulseChain, and PulseX. This survey note provides a comprehensive examination of his background, the evolution of his ventures, the legal battle, and the broader implications, drawing from various sources including his archived blog and recent developments.
Early Life and Entrepreneurial Beginnings
Richard James Schueler, known by his nickname "Heart," has a remarkable early profile. His IQ of 147 placed him in gifted programs, where he won Broward County math and writing competitions, scoring highest on the ASVAB test and achieving a 1390 SAT score (99.315 percentile). His educational journey included Nova High School, where he skipped his senior year for an early admissions college program, and later, he became a licensed mortgage broker. His personal interests, detailed in his archived blog (Richard Schueler's Old Blog), include distributed computing and anti-aging, with a goal to extend healthy life by seven years for everyone. This blog, hosted on WordPress and captured by the Wayback Machine, also reveals his extensive travels, visiting places like Madrid, Cape Town, and Fiji, and his personal challenges, such as a tooth injury and a tragic Panama experience involving fake passports and home invasion.
Schueler's early career was marked by entrepreneurial ventures. He worked at his father's air conditioning company in Florida before founding Audio Ecstasy, Inc., on January 3, 2000, with an office in Dania, FL, and a website archived at (Audio Ecstasy Archive). He later started InternetMarketingMasters.com in July 2001, expanding his business acumen. His financial investments, over $50,000 in training for himself and loved ones, including Tony Robbins' Mastery University, underscore his commitment to personal and professional growth.
The Crypto Ventures: HEX, PulseChain, and PulseX
Schueler's entry into cryptocurrency began with HEX, launched in December 2019 as an ERC20 token on the Ethereum network, positioning itself as a blockchain certificate of deposit (HEX Official Website). HEX's design incentivizes staking for rewards, with longer stakes earning higher returns, aiming to outperform traditional financial products like certificates of deposit. Its performance, outpacing Bitcoin and Ethereum in early years, is highlighted on its website, with claims of a 9481x appreciation.
Expanding his vision, Schueler introduced PulseChain, a layer-1 blockchain designed as a full-state hard fork of Ethereum, aiming for lower transaction fees, faster processing (10-second blocks vs. Ethereum's 12), and energy efficiency through proof-of-stake (PulseChain Official Website). PulseChain's launch included the largest airdrop in history, mirroring Ethereum-based tokens and NFTs, enriching ETH users. PulseX, launched as a decentralized exchange on PulseChain, functions similarly to Uniswap, enabling trading of PRC20 tokens with a 0.25% transaction fee, part of which is burned to potentially increase value (PulseX Official Website). These projects raised significant funds through "sacrifices," with PulseX alone attracting $1 billion, as noted in various crypto analyses.
The SEC Legal Battle and Victory
The SEC initiated legal action against Schueler, charging him with conducting unregistered offerings of crypto asset securities and misappropriating at least $12 million for luxury purchases, as detailed in their litigation release (SEC Litigation Release). The case, filed in 2023, accused HEX, PulseChain, and PulseX of being securities, with allegations of fraud and regulatory non-compliance. Schueler's defense, supported by legal motions, culminated in a hearing, and on February 28, 2025, Judge Carol Bagley Amon dismissed all claims. Schueler's X posts on the same day, at 15:04 and 19:53 PST (Richard Heart's X Post) and (Richard Heart's X Post), celebrated the ruling, noting it as rare and a win for cryptocurrency, aligning with Donald Trump's vision for America. The dismissal suggests the court found these projects do not meet the securities definition, a significant relief for Schueler and the crypto community.
Broader Implications and Community Reaction
This victory has far-reaching implications, potentially easing regulatory scrutiny on decentralized projects. It reinforces the argument that blockchain-based tokens and platforms, when designed for utility rather than investment, may not fall under securities laws. Richard Heart's projects, particularly HEX's flawless operation for over five years as mentioned in his X post, and PulseChain's environmental benefits, position him as a leader in DeFi innovation. The community's reaction, seen in discussions on platforms like Reddit, shows a huge amount of support, with some viewing his projects as revolutionary.
Detailed Background from Archived Blog
The archived blog provides a rich tapestry of Schueler's life, including his residence history in Broward County, Florida, before moving to Panama in 2004, and his educational achievements, such as graduating from Tony Robbins' Mastery University.
Blog excerpt: “After middle school I enrolled in Nova High School. I took the Armed Services Vocational Aptitude Battery (ASVAB) test, and the recruiters called my house and told me that I had scored the highest in Broward County on the test. It’s the test I take the most achievement in, because it tests you on many things that matter in the real world, and tests you on much much more than math and verbal skills like the SAT. It tests you on mechanics, electronics, the speed you can do math, I scored a 1390 on the SAT which is the 99.315 percentile, putting me in top 1 percent of all test takers”. - 2007, richardjschueler.com
Conclusion and Future Prospects
Richard Schueler's victory on February 28, 2025, is a testament to his resilience and vision, reinforcing the legitimacy of his projects. As the crypto industry navigates regulatory challenges, this ruling will inspire further development, with Schueler potentially looking to expand PulseChain and PulseX to integrate more with DeFi ecosystems. His journey, from a gifted student to a crypto pioneer, highlights the transformative potential of blockchain technology, celebrated by supporters and watched closely by regulators.
Citations
Note: GEORGE NEWS was proud to help out in a small way, in securing long “lost” email addresses and domain names for Richard Heart, as seen in our X post, dated February 18, 2025
On a day when the planets literally aligned, we also get news from the Trump White House of the first ever ‘Crypto Summit’.
