Hex Trust Secures Full Crypto License in Dubai

Hex Trust, a company that safeguards cryptocurrencies for institutions, has received a complete license to provide virtual asset services in Dubai. This move is part of its plan to grow its presence worldwide.

Timeline of Hex

Qraft Technologies, an invest-tech company specializing in artificial intelligence investing solutions, has formally entered into a strategic partnership with Hex Trust, the institutional-grade digital asset custodian licensed across global financial hubs.

Qraft Technologies partners with Hex Trust, leveraging AI to enhance digital asset investments. The alliance aims to bridge traditional and digital asset management, optimizing cryptocurrency portfolios.

Hex (HEX) market cap has dropped by nearly $500 million since the U.S. Securities and Exchange Commission labeled it security in its lawsuit against its founder, Richard Heart. On July 31.

After the U.S. Securities and Exchange Commission filed a lawsuit against Richard Heart and his companies Hex, Pulsechain and Pulsex, the crypto asset hex (HEX) has been in a free fall. Two-week statistics show HEX has lost 41.7% against the U.S. dollar and 35.8% over the past seven days.

Uniswap, the largest decentralized exchange, has removed the HEX token from its interface after it was recently declared an unregistered security by the United States Securities and Exchange Commission (SEC). This comes as another blow for the token in what has been an unpleasant week so far.

The Securities and Exchange Commission declared HEX and two other crypto projects led by Richard Heart as unregistered securities in a lawsuit. Heart allegedly raised $1 billion from HEX, PulseChain, and PulseX since 2019, per the SEC's claims in an Eastern District of New York court.

The SEC continues its crackdown on alleged securities violations. In its latest move, the agency charged Richard Heart, founder of Hex, with conducting unregistered securities offerings that raised over $1 billion.

Richard Schueler, popularly known as Richard Heart, is facing a lawsuit alleging he raised over $1 billion in unregistered securities offerings across three projects and used investor funds for personal expenses.

On July 31, the U.S. Securities and Exchange Commission (SEC) filed suit against Richard Heart, the founder of blockchain projects PulseChain and HEX, for allegedly defrauding investors and selling unregistered crypto securities.

The U.S. Securities and Exchange Commission (SEC) has initiated a lawsuit against Richard Schueler, better known in the crypto world as Richard Heart, for unregistered offerings of three tokens: HEX, PulseChain, and PulseX. The SEC alleges that he raised over $1 billion through the unregistered offerings starting in 2019.