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{{AFC submission|d|bio|u=129.49.68.28|ns=118|decliner=David Gerard|declinets=20240615194531|ts=20240523174447}} <!-- Do not remove this line! -->

{{AFC comment|1=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 - ] (]) 19:45, 15 June 2024 (UTC)}}

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{{Short description|American Cryptocurrency Founder}}
{{Draft topics|internet-culture|software|business-and-economics|stem}}
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'''Richard Heart''' (born '''Richard James Schueler''') is an American ] founder. '''Richard Heart''' (born '''Richard James Schueler''') is an American ] founder.
Going by an alias, Heart created the HEX cryptocurrency in 2019. <ref>{{cite web |title=Hex (HEX): What It Is, History, and Concerns |url=https://www.investopedia.com/hex-definition-5217721}}</ref> He later created three more cryptocurrencies: PulseChain and PulseX, forks of ] and ], respectively, and the INC token. <ref>{{cite web |title=What is PulseChain? A Guide to the Ethereum Hard Fork |url=https://medium.com/@PulseChainGeek/what-is-pulsechain-a-guide-to-the-ethereum-hard-fork-b3c6442b3dfc# |website=Medium|date=28 September 2023 }}</ref><ref>{{cite web |title=What is PulseX |date=22 February 2022 |url=https://medium.com/coinmonks/what-is-pulsex-and-why-did-people-give-it-a-billion-dollars-a63d95e9541}}</ref> He is currently believed to reside in Helsinki, Finland. <ref>{{cite web |title=SEC v. Richard J. Schueler |url=https://www.sec.gov/files/litigation/complaints/2023/comp-pr2023-143.pdf |website=SEC.Gov}}</ref> Heart created the HEX cryptocurrency in 2019.<ref>{{cite web |title=Hex (HEX): What It Is, History, and Concerns |url=https://www.investopedia.com/hex-definition-5217721}}</ref> In 2023 he launched three more cryptocurrencies: ] and PulseX, forks of ] and ], respectively, and the Incentive token.<ref>{{cite web |title=What is PulseChain? A Guide to the Ethereum Hard Fork |url=https://medium.com/@PulseChainGeek/what-is-pulsechain-a-guide-to-the-ethereum-hard-fork-b3c6442b3dfc# |website=Yahoo Finance|date=28 September 2023 }}</ref><ref>{{cite web |title=PulseX relevant details|date=14 February 2022 |url=https://finance.yahoo.com/news/everything-blockchain-lead-position-pulsex-120000051.html}}</ref> He is currently believed to reside in Helsinki, Finland.<ref>{{cite web |title=SEC v. Richard J. Schueler |url=https://www.sec.gov/files/litigation/complaints/2023/comp-pr2023-143.pdf |website=SEC.Gov}}</ref>. In February 2022, the largest polished black diamond in the world, ], was sold for £3.16 million by ] to an undisclosed buyer, later revealed as Richard Heart.<ref name="BBC">{{Cite news | title=The Enigma: Billion-year-old black diamond sold for £3.16m |language=en |url=https://www.bbc.co.uk/news/business-60328375 |work=BBC |access-date=2022-02-12}}</ref>


==Early life and education== ==Early life and education==
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==Career== ==Career==
Heart's career began with the Florida home-based car audio system business, Audio Ecstasy, Inc,<ref name="panama-guide.com">{{cite web |last1=Winner |first1=Don |title=Richard James Schueler - Friggin Spam King |url=http://www.panama-guide.com/article.php/20070926122502156 |website=Panama Guide |access-date=2 August 2023 |archive-date=31 October 2017 |archive-url=https://archive.today/2017.10.31-165536/http://www.panama-guide.com/article.php/20070926122502156 |url-status=dead}}</ref> Heart 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. <ref>{{cite web |title=Free-speech group Peacefire.org wins a legal round in its fight against unsolicited e-mail, invoking Washington state's anti-spam law. |website=] |url=https://www.zdnet.com/article/peacefire-org-beats-spammers-in-court/}}</ref> He later expanded his business operations to Panama but eventually returned to the U.S. after facing legal issues related to his business dealings there. <ref>{{cite web |last1=Rustin |first1=Sats |title=Richard Heart The 'Spam King' – Full Story |url=https://bitcoinnews.com/richard-heart-spam-king/ |website=Bitcoin News |date=31 May 2022 |access-date=2 August 2023}}</ref>{{Better source needed|date=August 2023}} Heart's career began with the Florida home-based car audio system business, Audio Ecstasy, Inc,<ref>{{cite web |last1=Winner |first1=Don |title=Richard James Schueler - Friggin Spam King |url=http://www.panama-guide.com/article.php/20070926122502156 |website=Panama Guide |access-date=2 August 2023 |archive-date=31 October 2017 |archive-url=https://archive.today/20171031165536/http://www.panama-guide.com/article.php/20070926122502156 |url-status=dead}}</ref> 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.<ref>{{cite web |title=Free-speech group Peacefire.org wins a legal round in its fight against unsolicited e-mail, invoking Washington state's anti-spam law. |website=] |url=https://www.zdnet.com/article/peacefire-org-beats-spammers-in-court/}}</ref> 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.<ref>{{cite web |last1=Rustin |first1=Sats |title=Richard Heart The 'Spam King' – Full Story |url=https://bitcoinnews.com/richard-heart-spam-king/ |website=Bitcoin News |date=31 May 2022 |access-date=2 August 2023}}</ref>{{Better source needed|date=August 2023}}


He later wrote a self-help book called sciVive which was made available for free online in both text and audio versions.<ref>{{cite web |title=sciVive book |url=https://ia600105.us.archive.org/30/items/SciViveBookOutline_201802/sciVive%20book%20outline.pdf}}</ref><ref>{{cite web |title=sciVive audio book |url=https://www.youtube.com/playlist?list=PL7dMDJekrPthqqBE1sid-yuHZbPmzJEYi}}</ref> He later wrote a self-help book, sciVive, which was made available for free online in both text and audio versions.<ref>{{cite web |title=sciVive book |url=https://ia600105.us.archive.org/30/items/SciViveBookOutline_201802/sciVive%20book%20outline.pdf}}</ref><ref>{{cite web |title=sciVive audio book | website=] |url=https://www.youtube.com/playlist?list=PL7dMDJekrPthqqBE1sid-yuHZbPmzJEYi}}</ref>


On December 2nd 2019, Heart launched the cryptocurrency HEX, which bills itself as the first blockchain ] by allocating inflation to stakers instead of validators or ] <ref>{{cite web |title=What Is Hex? |url=https://www.investopedia.com/hex-definition-5217721 |website=Investopedia.com}}</ref> On December 2nd 2019, Heart launched the cryptocurrency HEX, which bills itself as the first blockchain ] by introducing a time-lock and allocating inflation to stakers instead of validators or ].<ref>{{cite news |title=What Is Hex? |url=https://www.investopedia.com/hex-definition-5217721 |newspaper=Investopedia}}</ref><ref>https://finance.yahoo.com/news/hex-why-bitcoin-holders-care-120010630.html Yahoo Finance article about HEX / timelock explained</ref>


He later created PulseChain and PulseX. PulseChain, a fork of Ethereum, received funds from over 40,000 cryptocurrency wallets.<ref>{{cite web |title=Everything Blockchain Releases PulseChain Update |date=28 July 2021 |url=https://finance.yahoo.com/news/everything-blockchain-releases-pulsechain-major-150000280.html}}</ref> PulseX, a fork of ] Uniswap, was also launched under the PulseChain ecosystem. According to filings made by the ], collectively the two projects raised more than $1 billion in financing.<ref>{{cite web |title=SEC Charges Hex Founder Richard Hear |url=https://www.sec.gov/news/press-release/2023-143}}</ref> He later created PulseChain and PulseX. PulseChain, a full-state fork of Ethereum, received funds from over 40,000 cryptocurrency wallets.<ref>{{cite web |title=Everything Blockchain Releases PulseChain Update |date=28 July 2021 |url=https://finance.yahoo.com/news/everything-blockchain-releases-pulsechain-major-150000280.html}}</ref> PulseX, a fork of ] Uniswap, was also launched under the PulseChain ecosystem. According to filings made by the ], collectively the two projects raised more than $1 billion in financing.<ref>{{cite web |title=SEC Charges Hex Founder Richard Hear |url=https://www.sec.gov/news/press-release/2023-143}}</ref>


In 2023, ''The Highest of Stakes'',<ref>{{cite web |title=The Highest of Stakes |url=https://www.thehighestofstakes.com}}</ref> a movie about Heart and HEX was released in cinemas in the USA and the U.K. It was later made available on AppleTV <ref>{{cite web |title=The Highest of Stakes - Apple TV |date=4 August 2023 |url=https://tv.apple.com/us/movie/the-highest-of-stakes/umc.cmc.1o95w2qmjtxwsgjggp7awfoy5}}</ref>, Amazon Prime Video, Google Play, YouTube, Vudu and many other outlets.<ref>{{Cite web |title=The Highest of Stakes: Where to Watch and Why It's a Must-See |url=https://pulsecoinlist.com/blog/the-highest-of-stakes-where-to-watch-and-why-its-a-must-see |access-date=2023-12-19 |website=pulsecoinlist.com |language=en}}</ref> In 2023, ''The Highest of Stakes'',<ref>{{cite web |title=The Highest of Stakes |url=https://www.thehighestofstakes.com}}</ref> a movie about Heart and HEX was released in cinemas in the USA and the U.K. It was later made available on AppleTV,<ref>{{cite web |title=The Highest of Stakes - Apple TV |date=4 August 2023 |url=https://tv.apple.com/us/movie/the-highest-of-stakes/umc.cmc.1o95w2qmjtxwsgjggp7awfoy5}}</ref> Amazon Prime Video, Google Play, YouTube, Vudu and many other outlets.<ref>{{Cite web |title=The Highest of Stakes: Where to Watch and Why It's a Must-See |url=https://pulsecoinlist.com/blog/the-highest-of-stakes-where-to-watch-and-why-its-a-must-see |access-date=2023-12-19 |website=pulsecoinlist.com |language=en}}</ref>


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.<ref>{{Cite web |title=The Highest of Stakes: Where to Watch and Why It's a Must-See |url=https://pulsecoinlist.com/blog/the-highest-of-stakes-where-to-watch-and-why-its-a-must-see |access-date=2023-12-19 |website=pulsecoinlist.com |language=en}}</ref> 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.<ref>{{Cite web |title=The Highest of Stakes: Where to Watch and Why It's a Must-See |url=https://pulsecoinlist.com/blog/the-highest-of-stakes-where-to-watch-and-why-its-a-must-see |access-date=2023-12-19 |website=pulsecoinlist.com |language=en}}</ref>

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== ==Non-profit fundraising==


Heart created an initiative where donors to the ] would receive cryptocurrency. Over $25 million was raised over 5 days.<ref>{{cite web |title=Pulsechain cryptocurrency raises 'mindblowing' $25M in five days |date=20 July 2021 |url=https://www.express.co.uk/finance/city/1465354/pulsechain-cryptocurrency-srf-sens-research-foundation-airdrop-pulse-charity-longevity}}</ref><ref>{{cite web |title=PulseChain Airdrop |date=25 June 2021 |url=https://www.sens.org/pulse-chain-airdrop/}}</ref> Heart created an initiative where donors to the ] would receive cryptocurrency. Over $25 million was raised over 5 days.{{Citation needed}}


==Controversies and criticisms== ==Controversies and criticisms==


Popular cryptocurrency ranking website ] 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.<ref>{{cite web |title=Class Action Alleges CoinMarketCap.com, Binance Gamed Rankings |url=https://www.classaction.org/news/class-action-alleges-coinmarketcap.com-binance-gamed-rankings-to-artificially-suppress-price-of-hex-cryptocurrency}}</ref>
⚫ On July 31, 2023,<ref name="EconomicTimes">{{Cite news |date=2023-07-31 |title=US SEC charges Youtuber Richard Heart with unregistered crypto offerings fraud |work=The Economic Times |url=https://economictimes.indiatimes.com/tech/technology/us-sec-charges-youtuber-richard-heart-with-unregistered-crypto-offerings-fraud/articleshow/102286281.cms?from=mdr |access-date=2023-08-11 |issn=0013-0389}}</ref> the ] charged Heart with defrauding investors out of $12.1 million<ref>{{cite news |last1=Stempel |first1=Jonathan |date=31 July 2023 |title=US SEC says Hex crypto founder defrauded investors, spent money on 'Enigma' diamond |website=reuters |url=https://www.reuters.com/world/us/us-charges-youtuber-richard-heart-with-fraud-related-unregistered-crypto-2023-07-31/ |access-date=2 August 2023}}</ref> and illegally raising more than $1 billion in unregistered cryptocurrency offerings to finance personal luxury goods purchases, including a 555.55-carat black diamond,<ref name="EconomicTimes"/> ], for $4.3 million in cryptocurrency, renaming it the "HEX.com diamond".<ref>{{cite web |last1=McKeever |first1=Vicky |title=Billion-year-old black diamond bought with cryptocurrency for $4.3 million |url=https://www.cnbc.com/2022/02/10/billion-year-old-black-diamond-bought-with-cryptocurrency-for-4point3m.html |website=CNBC |date=10 February 2022 |access-date=2 August 2023}}</ref><ref>{{cite news |title=The Enigma: Billion-year-old black diamond sold for £3.16m |work=BBC News |date=10 February 2022 |url=https://www.bbc.com/news/business-60328375 |access-date=2 August 2023}}</ref>

⚫ On July 31, 2023,<ref name="The Economic Times-2023">{{Cite news |date=2023-07-31 |title=US SEC charges Youtuber Richard Heart with unregistered crypto offerings fraud |work=The Economic Times |url=https://economictimes.indiatimes.com/tech/technology/us-sec-charges-youtuber-richard-heart-with-unregistered-crypto-offerings-fraud/articleshow/102286281.cms?from=mdr |access-date=2023-08-11 |issn=0013-0389}}</ref> the ] charged Heart with defrauding investors out of $12.1 million<ref>{{cite news |last1=Stempel |first1=Jonathan |date=31 July 2023 |title=US SEC says Hex crypto founder defrauded investors, spent money on 'Enigma' diamond |website=reuters |url=https://www.reuters.com/world/us/us-charges-youtuber-richard-heart-with-fraud-related-unregistered-crypto-2023-07-31/ |access-date=2 August 2023}}</ref> and illegally raising more than $1 billion in unregistered cryptocurrency offerings to finance personal luxury goods purchases, including a 555.55-carat black diamond,<ref name="The Economic Times-2023"/> ], for $4.3 million in cryptocurrency, renaming it the "HEX.com diamond".<ref>{{cite web |last1=McKeever |first1=Vicky |title=Billion-year-old black diamond bought with cryptocurrency for $4.3 million |url=https://www.cnbc.com/2022/02/10/billion-year-old-black-diamond-bought-with-cryptocurrency-for-4point3m.html |website=CNBC |date=10 February 2022 |access-date=2 August 2023}}</ref><ref>{{cite news |title=The Enigma: Billion-year-old black diamond sold for £3.16m |work=BBC News |date=10 February 2022 |url=https://www.bbc.com/news/business-60328375 |access-date=2 August 2023}}</ref>


==References== ==References==
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American Cryptocurrency Founder
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Richard Heart (born Richard James Schueler) is an American cryptocurrency founder. Heart created the HEX cryptocurrency in 2019. In 2023 he launched three more cryptocurrencies: Pulsechain and PulseX, forks of Ethereum and Uniswap, respectively, and the Incentive token. He is currently believed to reside in Helsinki, Finland.. 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.

Early life and education

Richard Heart was born on October 9, 1979, in Pittsburgh, Pennsylvania.

Career

Heart's career began with the Florida home-based car audio system business, Audio Ecstasy, Inc, 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. 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.

He later wrote a self-help book, sciVive, which was made available for free online in both text and audio versions.

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.

He later created PulseChain and PulseX. PulseChain, a full-state fork of Ethereum, received funds from over 40,000 cryptocurrency wallets. 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.

In 2023, The Highest of Stakes, a movie about Heart and HEX was released in cinemas in the USA and the U.K. It was later made available on AppleTV, Amazon Prime Video, Google Play, YouTube, Vudu and many other outlets.

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.

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

Heart created an initiative where donors to the SENS Research Foundation would receive cryptocurrency. Over $25 million was raised over 5 days.

Controversies and criticisms

Popular 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.

On July 31, 2023, the U.S. Securities and Exchange Commission charged Heart with defrauding investors out of $12.1 million and illegally raising more than $1 billion in unregistered cryptocurrency offerings to finance personal luxury goods purchases, including a 555.55-carat black diamond, The Enigma, for $4.3 million in cryptocurrency, renaming it the "HEX.com diamond".

References

  1. "Hex (HEX): What It Is, History, and Concerns".
  2. "What is PulseChain? A Guide to the Ethereum Hard Fork". Yahoo Finance. 28 September 2023.
  3. "PulseX relevant details". 14 February 2022.
  4. "SEC v. Richard J. Schueler" (PDF). SEC.Gov.
  5. "The Enigma: Billion-year-old black diamond sold for £3.16m". BBC. Retrieved 2022-02-12.
  6. 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.
  7. Winner, Don. "Richard James Schueler - Friggin Spam King". Panama Guide. Archived from the original on 31 October 2017. Retrieved 2 August 2023.
  8. "Free-speech group Peacefire.org wins a legal round in its fight against unsolicited e-mail, invoking Washington state's anti-spam law". ZDNet.
  9. Rustin, Sats (31 May 2022). "Richard Heart The 'Spam King' – Full Story". Bitcoin News. Retrieved 2 August 2023.
  10. "sciVive book" (PDF).
  11. "sciVive audio book". YouTube.
  12. "What Is Hex?". Investopedia.
  13. https://finance.yahoo.com/news/hex-why-bitcoin-holders-care-120010630.html Yahoo Finance article about HEX / timelock explained
  14. "Everything Blockchain Releases PulseChain Update". 28 July 2021.
  15. "SEC Charges Hex Founder Richard Hear".
  16. "The Highest of Stakes".
  17. "The Highest of Stakes - Apple TV". 4 August 2023.
  18. "The Highest of Stakes: Where to Watch and Why It's a Must-See". pulsecoinlist.com. Retrieved 2023-12-19.
  19. "The Highest of Stakes: Where to Watch and Why It's a Must-See". pulsecoinlist.com. Retrieved 2023-12-19.
  20. "Class Action Alleges CoinMarketCap.com, Binance Gamed Rankings".
  21. ^ "US SEC charges Youtuber Richard Heart with unregistered crypto offerings fraud". The Economic Times. 2023-07-31. ISSN 0013-0389. Retrieved 2023-08-11.
  22. Stempel, Jonathan (31 July 2023). "US SEC says Hex crypto founder defrauded investors, spent money on 'Enigma' diamond". reuters. Retrieved 2 August 2023.
  23. McKeever, Vicky (10 February 2022). "Billion-year-old black diamond bought with cryptocurrency for $4.3 million". CNBC. Retrieved 2 August 2023.
  24. "The Enigma: Billion-year-old black diamond sold for £3.16m". BBC News. 10 February 2022. Retrieved 2 August 2023.


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