In a rather peculiar turn of events befitting the works of a great existential philosopher, a federal court in the vast expanse of the United States has boldly dismissed the dubious lawsuit instigated by the SEC against the enigmatic figure, Richard Heart—extravagantly flourishing founder of HEX—on grounds of audacious jurisdictional overreach.
In the aftermath of this judicial revelation, tokens embraced by Heart—namely HEX, PulseChain, and PulseX—have dazzled the market with an unbridled surge in value, with HEX gallantly leading the charge with an astonishing nearly 80% gain. Ah, the sweet nectar of victory! 🍾
Judge Delivers a Blow to the SEC’s Aspirations
On the particularly fateful day of February 28, in the hallowed chambers of the US District Court for the Eastern District of New York, the presiding Judge Carol Bagley Amon rendered a decision in favor of Richard Schueler, that same audacious Richard Heart, dismissing the SEC’s quixotic lawsuit.
The regulatory agency, in its noble pursuit of justice—or so it claims—had accused Heart of orchestrating an unregistered securities offering, alleging that he had garnered more than a staggering $1 billion in cryptocurrency assets. What a colorful imagination!
Oh, but that was not all! The SEC went on to assert that Heart, alongside his audacious blockchain endeavor PulseChain, misappropriated at least $12 million for lavish indulgences, which included high-end automobiles, glittering timepieces, and a resplendent black diamond. Fancy that! 💎
Richard Heart, with fervor reminiscent of the great thinkers, stood his ground against these claims, arguing with impeccable logic that the SEC lacked any true jurisdiction over his lofty pursuits. He maintained that the regulator failed to substantiate its assertions that his actions were directed toward the vulnerable investors of the United States of America.
In a moment worthy of the most dramatic novels, Judge Amon, in a flourish of legal wisdom, sided with Heart, stating with undeniable clarity that the SEC had not succeeded in establishing a sufficiently stringent legal basis for its case.
Furthermore, the judge discerned that Heart’s marketing endeavors were intended for a global audience and were not specifically aimed at the weary souls of US investors. The SEC had posited that Heart had vigorously promoted his ventures through the sprawling realms of websites and social media—a modern-day street corner, if you will. But alas, the court concluded that merely imparting information in the vast digital landscape did not amount to sufficient grounds for the far-fetched notion of jurisdiction.
“Heart did not engage in direct correspondence with US-based investors nor respond to their queries through his online platforms. Instead, he merely offered valuable ‘how-to’ guidance, which, strikingly, is not enough to draw the weighty hand of the law,” Judge Amon remarked, with an air of incredulity.
Additionally, the sagacious judge ruled that the SEC had failed woefully to demonstrate that Heart’s alleged misdeeds of fund misappropriation and duplicitous transactions transpired within the cozy confines of the United States. What a tangled web we weave!
“The alleged misappropriation transpired through ethereal digital wallets and cryptographic platforms, none of which were alleged to bear any connection with the United States,” ruled the esteemed Judge, as if reciting a passage from a beautifully penned narrative.
As the pages of this legal saga turned, the ruling concluded that even if the SEC had somehow managed to prove jurisdiction, its complaint was perilously devoid of substantial evidence supporting domestic securities law violations. Thus, in a most dramatic fashion, the case was summarily dismissed.
“Even had the SEC successfully established personal jurisdiction over Heart, the Complaint cannot withstand scrutiny because it fails to adequately demonstrate that the transactions or conduct in question were domestic under the formidable federal securities laws,” stated the imperious Judge Amon.
A Resounding Victory for HEX and PulseChain
Reacting to this monumental decision, Heart, with a sparkle of triumph in his eyes, hailed the ruling as an exceedingly rare victory for the beleaguered cryptocurrency industry.
He ardently asserted that HEX, PulseChain, and PulseX should move forth unimpeded, boldly proclaiming that HEX had gracefully functioned without so much as a misstep for over five sunlit years. A true marvel in a world often laced with chaos! 🌍
“This instance of triumph over the relentless SEC is a rarity indeed. PulseChain, PulseX, and HEX are not mere securities; they are entities worthy of flourishing in this vast market!” Heart extolled, basking in the glow of vindication, “Today’s judgment in favor of a cryptocurrency visionary and his projects over the SEC inspires hope—for all of us in this hopeful industry.”
In the wake of this legal epiphany, the tokens tethered to Heart experienced an explosion of price gains as if propelled by some unseen cosmic force.
According to the latest whispers from CoinGecko, HEX surged over 77% within the span of a mere 24 hours, trading at a lofty $0.003979. Meanwhile, PulseChain reared its head with an impressive ascent of more than 65%, reaching approximately $0.01575 at this juncture of time—the heavens seemed to align!
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2025-03-01 15:15