World News
SEC sues Richard Heart and his projects Hex, PulseChain and Pulse X for fraud, securities violations on July 31, 2023 at 4:46 pm
The U.S. Securities and Exchange Commission (SEC) said it is suing Richard Schueler, known online as Richard Heart and his three crypto projects, Hex, PulseChain and PulseX, for conducting unregistered offerings of “crypto asset securities.”
The unregistered offerings raised more than $1 billion in crypto from investors, the agency stated.
Heart and PulseChain also were charged with fraud “for misappropriating at least $12 million of offering proceeds to purchase luxury goods including sports cars, watches, and a 555-carat black diamond known as ‘The Enigma’ – reportedly the largest black diamond in the world.”
PulseChain launched in May, and PulseX is the exchange on its blockchain that allows users to exchange other tokens on its network, according to its website.
The two entities were off to a rocky start due to their connection to Hex and some community members’ concerns about its fundamentals. Hex has been around since 2019 and doesn’t have a stellar reputation because many market players view it as a scam due to its advertisements as the first “blockchain certificate of deposit.” It claimed that users who stake its token could mine new coins with high APYs and deposits are worth “trillions of dollars” and are “worth more than gold, credit card companies and cash.”
With that said, Hex claims it’s not a scam, and even has a page on its website dedicated to clarifying itself.
The SEC echoed that Heart allegedly created the “staking” feature for HEX tokens, which he claimed would provide yields as high as 38%, the agency stated. The complaint further alleges that Heart “attempted to evade securities laws by calling on investors to ‘sacrifice’ (instead of ‘invest’) their crypto assets in exchange for PLS and PLSX tokens.”
From December 2019 to November 2020, Heart and Hex allegedly offered and sold HEX tokens in an unregistered offering, bringing in over 2.3 million ether, worth about $4,271,468,000 at present value, the SEC stated.
The SEC also alleged that between July 2021 and March 2022, Heart created two additional unregistered crypto tokens, PLS and PLSX, that raised hundreds of millions in crypto to support PulseChain and PulseX, respectively.
The price of the HEX, PLS and PLSX tokens fell 24%, 25% and 42%, respectively, on Monday after news of the SEC’s complaint.
In recent months, the SEC has ramped up efforts to crack down on the crypto industry, going after companies big and small for alleged securities violations, fraud, and other activities. As the agency continues to scrutinize the space, we could well see other firms facing lawsuits in the coming months.
All in all, the SEC’s issue is with companies treating crypto assets as securities, something that the industry and other government regulatory bodies don’t agree on.
Earlier this month, a federal court ruled that the XRP token, used for the Ripple blockchain, is not a security when sold to the broader public, but could be considered as one for institutional sales. The SEC had alleged in its case that Ripple and two executives had raised $1.3 billion in an alleged “unregistered, ongoing digital asset securities offering.”
Stu Alderoty, chief legal officer of Ripple Labs, told me on TechCrunch’s Chain Reaction podcast that the ruling could potentially provide clarity for other pending lawsuits. “I think our case and the decision rendered by our judge will provide comfort to other judges that the SEC is just misguided.”
But, he said, the question that policymakers and lawyers should be asking is, “What’s the best regulatory framework that we can create that protects the integrity of the market?”
The U.S. Securities and Exchange Commission (SEC) said it is suing Richard Schueler, known online as Richard Heart and his three crypto projects, Hex, PulseChain and PulseX, for conducting unregistered offerings of “crypto asset securities.” The unregistered offerings raised more than $1 billion in crypto from investors, the agency stated. Heart and PulseChain also were
Business
GLOBAL SUSTAINABILITY SUMMIT RETURNS FOR ITS 5TH EDITION AT THE BRITISH PARLIAMENT – HOUSE OF LORDS, PALACE OF WESTMINSTER

FOR IMMEDIATE RELEASE
Theme: “People, Planet, and Profit in the Age of AI and Innovation”
London, United Kingdom — The Global Sustainability Summit (GSS) is officially back for its landmark 5th Edition, continuing its legacy as one of the leading international platforms driving sustainable development, climate action, ethical investment, innovation, and global collaboration.

Convened annually at the prestigious British Parliament, House of Lords, Palace of Westminster, by Ambassador Canon Chinenem Otto, the Summit has, over the last four years, successfully fostered international dialogue and partnerships that have contributed to the advancement of global sustainability goals, the establishment of sustainability-focused ministries, departments and policy structures across national and subnational governments, and the attraction of major investors into sustainable development projects, corporations and emerging economies.
This year’s summit, themed “People, Planet, and Profit in the Age of AI and Innovation,” will explore how emerging technologies, responsible leadership, sustainable finance, innovation, and global partnerships can shape a more inclusive, resilient and environmentally conscious future.

The 5th Edition promises to be the most impactful yet, bringing together world leaders, policymakers, diplomats, investors, academics, innovators, climate experts and youth leaders from across the globe to discuss actionable solutions toward achieving a sustainable and equitable future.
Among the distinguished speakers, delegates and honorees already lined up for the Summit are:
• His Excellency Mallam AbdulRahman AbdulRazaq — Executive Governor of Kwara State, Nigeria and Chairman of the Nigeria Governors’ Forum
• His Excellency Senator Prince Bassey Otu — Executive Governor of Cross River State, Nigeria
• Ambassador Patricia Espinosa Cantellano — Former Executive Secretary of UN Climate Change (UNFCCC) and Former Foreign Minister of Mexico

• Lord Marvin Rees, Baron Rees of Easton OBE — Member of the House of Lords, United Kingdom
• Hon. Neema K. Lugangira — Secretary-General of Women Political Leaders (WPL), Brussels and Former Member of Parliament
• Her Excellency Dr. Netumbo Nandi-Ndaitwah — President of the Republic of Namibia
• His Excellency Nangolo Mbumba — Former President of Namibia
• Former President of Tanzania
• Her Excellency Ambassador Professor Olufolake AbdulRazaq — First Lady of Kwara State, Nigeria and Chairperson of Nigeria Governors’ Spouses Forum
• Your Excellency Dr. Dikko Umar Radda, PhD, CON — Executive Governor of Katsina State and Chairman of the Northwest Governors Forum, Nigeria
• Hon. Sam Shafiishuna Nujoma — Governor of Khomas Region, Namibia

• H.E. Mr. Veiccoh Nghiwete — High Commissioner of the Republic of Namibia to the United Kingdom
• Her Excellency Ms. Macenje “Che Che” Mazoka — High Commissioner of Zambia to the United Kingdom
• Ms. Danielle Newman — Partner Lead, ICT, World Economic Forum
• Leanne Elliott Young — Co-founder, Institute of Digital Fashion & CommuneEast
• Ms. Chloe Russell — Producer & Presenter, Art, Science and Nature
• Professor Marie-Claire Cordonier Segger — University of Cambridge & University of Waterloo
• Dr. Alexandra R. Harrington — IUCN World Commission on Environmental Law (WCEL)
• Professor Payam Akhavan — Massey College, University of Toronto
• Mr. Mallai C. E. Sathya — President, Dravida Vetri Kazhagam and International Movement for Tamil Culture Asia

The Summit will feature high-level panel discussions, strategic investment conversations, sustainability awards, policy dialogues, innovation showcases, youth engagement sessions and international networking opportunities focused on climate resilience, ethical financing, food-water-energy sustainability, circular economy, artificial intelligence, diplomacy and sustainable development.
Speaking ahead of the Summit, Convener Ambassador Canon Chinenem Otto noted:
“As the world rapidly evolves through artificial intelligence and technological innovation, we must ensure that sustainability remains people-centered, environmentally responsible and economically inclusive. The Global Sustainability Summit continues to serve as a bridge connecting governments, institutions, innovators and investors to accelerate practical sustainability solutions globally. Our fifth edition is not only a celebration of progress made over the years, but also a renewed call for global collaboration and actionable impact toward achieving the Sustainable Development Goals and Net Zero ambitions.”
The Global Sustainability Summit continues to position itself as a catalyst for transformative partnerships and sustainable global progress, reinforcing the urgent need for collective action toward a more resilient and sustainable future.
More announcements regarding additional speakers, partners and summit activities will be unveiled in the coming weeks.
News
US May Completely Cut Income Tax Due to Tariff Revenue

President Donald Trump says the United States might one day get rid of federal income tax because of money the government collects from tariffs on imported goods. Tariffs are extra taxes the U.S. puts on products that come from other countries.

What Trump Is Saying
Trump has said that tariff money could become so large that it might allow the government to cut income taxes “almost completely.” He has also talked about possibly phasing out income tax over the next few years if tariff money keeps going up.
How Taxes Work Now
Right now, the federal government gets much more money from income taxes than from tariffs. Income taxes bring in trillions of dollars each year, while tariffs bring in only a small part of that total. Because of this gap, experts say tariffs would need to grow by many times to replace income tax money.
Questions From Experts
Many economists and tax experts doubt that tariffs alone could pay for the whole federal budget. They warn that very high tariffs could make many imported goods more expensive for shoppers in the United States. This could hit lower- and middle‑income families hardest, because they spend a big share of their money on everyday items.
What Congress Must Do
The president can change some tariffs, but only Congress can change or end the federal income tax. That means any real plan to remove income tax would need new laws passed by both the House of Representatives and the Senate. So far, there is no detailed law or full budget plan on this idea.

What It Means Right Now
For now, Trump’s comments are a proposal, not a change in the law. People and businesses still have to pay federal income tax under the current rules. The debate over using tariffs instead of income taxes is likely to continue among lawmakers, experts, and voters.
News
Epstein Files to Be Declassified After Trump Order

Former President Donald Trump has signed an executive order directing federal agencies to declassify all government files related to Jeffrey Epstein, the disgraced financier whose death in 2019 continues to fuel controversy and speculation.
The order, signed Wednesday at Trump’s Mar-a-Lago estate, instructs the FBI, Department of Justice, and intelligence agencies to release documents detailing Epstein’s network, finances, and alleged connections to high-profile figures. Trump described the move as “a step toward transparency and public trust,” promising that no names would be shielded from scrutiny.
“This information belongs to the American people,” Trump said in a televised statement. “For too long, powerful interests have tried to bury the truth. That ends now.”
U.S. intelligence officials confirmed that preparations for the release are already underway. According to sources familiar with the process, the first batch of documents is expected to be made public within the next 30 days, with additional releases scheduled over several months.
Reactions poured in across the political spectrum. Supporters praised the decision as a bold act of accountability, while critics alleged it was politically motivated, timed to draw attention during a volatile election season. Civil rights advocates, meanwhile, emphasized caution, warning that some records could expose private victims or ongoing legal matters.
The Epstein case, which implicated figures in politics, business, and entertainment, remains one of the most talked-about scandals of the past decade. Epstein’s connections to influential individuals—including politicians, royals, and executives—have long sparked speculation about the extent of his operations and who may have been involved.

Former federal prosecutor Lauren Fields said the release could mark a turning point in public discourse surrounding government transparency. “Regardless of political stance, this declassification has the potential to reshape how Americans view power and accountability,” Fields noted.
Officials say redactions may still occur to protect sensitive intelligence or personal information, but the intent is a near-complete disclosure. For years, critics of the government’s handling of Epstein’s case have accused agencies of concealing evidence or shielding elites from exposure. Trump’s order promises to change that narrative.
As anticipation builds, journalists, legal analysts, and online commentators are preparing for what could be one of the most consequential information releases in recent history.
Advice4 weeks agoHow to Make Your Indie Film Pay Off Without Losing Half to Distributors
Advice4 weeks agoHow to Find Your Voice as a Filmmaker
Entertainment3 weeks agoOzempic Era: Beauty, Lizard Venom, Big Pharma
Business4 weeks agoGLOBAL SUSTAINABILITY SUMMIT RETURNS FOR ITS 5TH EDITION AT THE BRITISH PARLIAMENT – HOUSE OF LORDS, PALACE OF WESTMINSTER
Film Industry3 weeks ago67% Of Film Roles Are Now White Again — And Hollywood Knows Exactly What It’s Doing
News3 weeks agoCan AI Really Steal Your Fingerprints From a Selfie?
Film Industry3 weeks agoActors Win AI Deal – But Your Face Is Still Training the Machine
Business3 weeks agoBuilding a 10 Million Army: One Leader’s Mission to Save Tomorrow


















