Victory for Richard Heart! A landmark win for crypto

Today marks a significant win for crypto against the SEC. There are a lot of investors rejoicing right now, because Judge Carol Bagley Amon has just dismissed the SEC case against Richard Heart. Many are calling this a win for cryptocurrency in general and a triumph over regulatory overreach.

So who is Richard Heart and why does all this matter? I’m about to break it all down. This will be a big recap, so get comfy, and let’s get into it!

Who is Richard Heart?

Richard Heart (RH) is the founder of HEX, PulseChain, and PulseX – DeFi projects that myself and many DWG students are invested in. Richard is a controversial figure who is known for his outrageous marketing tactics. But one thing is clear – he has always been an advocate for freedom of speech, self-custody and financial sovereignty.

Richard may be divisive, but as we’ve seen time and time again, those who are demonised by the mainstream aren’t always the villains, and those hailed as heroes aren’t always what they seem… Richard was given the villain edit, but his passionate, unwavering community have always seen him as a pioneer for decentralisation.

A two-year battle with the SEC 

In July 2023 Richard was targeted by the SEC. This was some of the sentiment being shared at the time:

“The SEC has no power over DeFi, this is a huge overreaction.”

‘HEX is community-driven and this is another opportunity for the community to rise up and shine.

‘If they can’t prove XRP is a security, how can they possibly prove Richard Heart’s projects are?’

While he certainly wasn’t the only one the SEC went after (they also targeted Ethereum, XRP, Coinbase and Kraken), Richard’s case stood out for one big reason:

Richard refused to settle.

Instead of backing down, Richard hired an elite team of 11 lawyers who fought back hard.

For nearly two years, the PulseChain ecosystem has suffered setbacks, including delistings from major platforms like Uniswap. But the community never wavered. In fact, this is one of the strongest and most dedicated communities in crypto, where even a 99% drop couldn’t scare them into selling!

Now, with this court victory, it will be interesting to see whether these platforms reconsider their stance…

Richard’s legal battle reached a turning point on October 312024, when over 70 crypto investors packed a New York courtroom to support him against the SEC.

In that hearing, Richard’s lawyers systematically dismantled every accusation made against him, leaving the SEC looking very unprepared! Supporters have been waiting for the Judge’s decision ever since. And today – it arrived.

And the market reacted swiftly!

Why does this case matter?

Most SEC lawsuits end in settlements or partial victories, but this case was a full dismissal. 

That alone is historic.

But beyond that, this case could:

✅ Set a precedent for decentralisation – making it harder for the SEC to go after DeFi projects.
✅ Force regulators to rethink their strategy – Trump has already made changes within the SEC, and this loss could further shift their approach.
✅ Empower crypto founders – showing that fighting back, rather than settling, can be a viable path.

The PulseChain ecosystem has been suppressed for so long, investors are excited for what this win could mean.

Will Pulsechain now have a chance to reach a much wider audience, particularly if big platforms relist RH coins?

The average crypto investor has no idea of the untapped potential that PulseChain represents. They don’t know that it’s a faster and cheaper version of Ethereum, they don’t realise they have free copies of ERC20’s sitting there waiting for them. In many ways, for those who value utility, decentralisation and freedom of speech, PulseChain could be the sleeping giant of this cycle.

Whether you’ve been following this case or not, this win could redefine how regulators and decentralised projects coexist in the future.

It’s a great day for crypto.