**SEC Pushes Back Against HEX Founder’s Dismissal Bid**

The SEC has countered HEX founder Richard Heart’s attempt to dismiss a $1 billion securities lawsuit. Heart, whose real name is Richard Schueler, argued the SEC lacks jurisdiction as he resides abroad and hasn't been in the U.S. during the relevant period. However, the SEC claims Heart targeted U.S. investors, promoting HEX, PulseChain, and PulseX at U.S. events and on a Miami podcast.

The SEC alleges Heart raised over $350 million for PulseChain but spent $12 million on luxury items, including watches and a massive black diamond. Heart contends the SEC’s case infringes on his free speech rights. The next hearing is set for Oct. 24.