Richard Heart (Richard James Schueler) is an American cryptocurrency developer and businessman. Going by an alias, Heart is the creator of the crypto token HEX on Ethereum and later PulseChain, a hard-forked layer-1 blockchain software based on Ethereum. [1] Heart is currently believed to reside in Helsinki, Finland. [2]

Early Life and education

Richard Heart was born on October 9, 1979, in Pittsburgh, Pennsylvania.[3] In middle school, Heart was enrolled in an advanced MEGSSS (Mathematical Education for the Gifted Secondary School Student), developed by an MIT alumnus.[4] During this program, he developed several skills, including Scheme programming.

Career

Heart's career began with the Florida home-based car audio system business, Audio Ecstasy, Inc,[5] and a mortgage company that utilized search engine optimization for growth.[6] Heart also founded a marketing firm that pioneered early internet spam marketing techniques.[5][7] He later expanded his business operations to Panama, generating substantial annual gains, but eventually returned to the U.S. after facing legal issues related to his business dealings in Panama.[8]

Heart used social media platforms like YouTube and Twitter to share opinions and analyses on cryptocurrencies and blockchain technology. His engaging communication style attracted a considerable following, making him a notable figure within the cryptocurrency community.

In December 2019, Heart launched HEX, an Ethereum-based cryptocurrency which bills itself as the first blockchain certificate of deposit (CD).[9] Hex pays interest to those that stake their Hex, with longer stakes receiving more interest.[10] However, HEX faced criticism from sceptics who questioned its legitimacy, marketing strategies, and potential risks.

He later created PulseChain and PulseX. PulseChain, launched as a layer-1 blockchain, raised significant funds through an initial coin offering (ICO) to improve upon Ethereum's value proposition. PulseX, a decentralized exchange similar to Uniswap, was also launched under the PulseChain ecosystem.

In summer 2023 The Highest of Stakes[11] movie was released in cinemas in the USA and the U.K. The movie features Richard Heart along with both fans and critics of himself and Hex. In December 2023 The Highest of Stakes was made available on AppleTV [12] and Amazon Prime Video.[13]

Controversies and criticisms

On July 31, 2023,[14] the U.S. Securities and Exchange Commission charged Heart with defrauding investors out of $12.1 million[15] and illegally raising more than $1 billion in unregistered cryptocurrency offerings to finance personal luxury goods purchases, including a 555.55-carat black diamond,[14] The Enigma, for $4.3 million in cryptocurrency, renaming it the "HEX.com diamond".[16][17]

References

  1. ↑ "What is PulseChain? A Guide to the Ethereum Hard Fork". Medium.
  2. ↑ "SEC v. Richard J. Schueler" (PDF). SEC.Gov.
  3. ↑ 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.
  4. ↑ @RichardHeartWin (August 27, 2019). "Here was the curriculum at my gifted middle school (MEGSSS). (11-13 years old)" (Tweet) – via Twitter.
  5. 1 2 Winner, Don. "Richard James Schueler - Friggin Spam King". Panama Guide. Archived from the original on 31 October 2017. Retrieved 2 August 2023.
  6. ↑ "Richard Heart and the Influence of Bitcoin on the Hex Blueprint". Digital Interface Group of Publishers.
  7. ↑ Mariano, Gwendolyn (March 26, 2002). "Peacefire.org beats spammers in court". ZDNET. Retrieved 2 August 2023.
  8. ↑ Rustin, Sats (31 May 2022). "Richard Heart The 'Spam King' – Full Story". Bitcoin News. Retrieved 2 August 2023.
  9. ↑ "What Is Hex?". Investopedia.com.
  10. ↑ "What the HEX: A Look at Richard Heart's Controversial New Crypto". Coin Telegraph.
  11. ↑ "The Highest of Stakes".
  12. ↑ "The Highest of Stakes - Apple TV".
  13. ↑ "Amazon Prime Video".
  14. 1 2 "US SEC charges Youtuber Richard Heart with unregistered crypto offerings fraud". The Economic Times. 2023-07-31. ISSN 0013-0389. Retrieved 2023-08-11.
  15. ↑ Stempel, Jonathan (31 July 2023). "US SEC says Hex crypto founder defrauded investors, spent money on 'Enigma' diamond". reuters. Retrieved 2 August 2023.
  16. ↑ McKeever, Vicky (10 February 2022). "Billion-year-old black diamond bought with cryptocurrency for $4.3 million". CNBC. Retrieved 2 August 2023.
  17. ↑ "The Enigma: Billion-year-old black diamond sold for £3.16m". BBC News. 10 February 2022. Retrieved 2 August 2023.
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