I just read that the SEC has withdrawn the entire case against Richard Heart and his projects. Seriously? After the court already rejected the original complaint, the SEC simply dropped the amended version. Richard Heart immediately bragged that this was a complete victory and that his coins now have a safer status than almost all others.

The whole matter has been dragging on since July 2023—the SEC accused him of selling unregistered securities. They said he raised more than a billion dollars from investors. There was a whole list of charges: HEX was supposed to be a “deposit certificate” with 38% returns. They also accused Richard Heart of stealing $12 million and buying expensive cars—or that famous diamond. But now? Everything has been dismissed, because the SEC gave up.

Worse, HEX is down 99.6% from its all-time high of 0.5108 USD, so even though Richard Heart won in court, the token is still in the dumps. Recently, though, it has bounced back a bit—up 14% over the last 24 hours and 30% over the year. I don’t know whether this is already a breakthrough or just a temporary wave. It’ll be interesting to see whether this legal win really changes the narrative around these projects.