HEX is back in the spotlight after a major legal win against the SEC, with its price jumping 15% following its relisting on Uniswap. The controversial token, which has faced regulatory scrutiny and allegations of fraud, is once again gaining traction among traders. But with ongoing legal troubles surrounding its founder, the question remains—how long will this rally last?
HEX Bounces Back with a 15% Price Jump
Tuesday, March 4th, saw HEX making waves in the crypto market as its price climbed 15.18%. The surge came right after Uniswap reinstated the token, a significant move considering HEX had been delisted from the platform in August 2023.
Back then, Uniswap removed HEX following legal action by the SEC, which accused the project of being an unregistered security. But with a judge dismissing the lawsuit on February 28, the regulatory threat seemed to fade—at least for now. That was enough for Uniswap to bring HEX back into its trading pairs.
Market uncertainty had previously dragged HEX’s value down, especially amid concerns over the U.S. government’s evolving stance on cryptocurrency regulation. However, this latest legal win gave the token the momentum it needed to recover.
Why HEX Was Delisted in the First Place
The SEC had been after HEX for a while, claiming its founder, Richard Heart, raised over $1 billion through an unregistered offering. On top of that, the agency accused Heart of using $12.1 million of the company’s funds for personal luxuries, including:
- Expensive sports cars
- High-end watches
- A 555-carat black diamond called ‘The Enigma’
These allegations led Uniswap to cut ties with HEX, fearing legal consequences. The decentralized exchange itself was under the SEC’s microscope, making the decision to delist the token a defensive move.
With the lawsuit now dismissed due to jurisdictional issues, Uniswap apparently felt safe enough to welcome HEX back.
Will the SEC’s Legal Troubles End Here?
The HEX ruling isn’t the only sign of a shifting regulatory landscape. The SEC has also dropped lawsuits against other major crypto companies, including Binance and Coinbase. A change in leadership following Donald Trump’s appointment played a role in these decisions.
But HEX’s legal battles are far from over. While the SEC’s case may be off the table for now, Richard Heart is still dealing with legal troubles elsewhere.
- In Finland, he faces charges of tax fraud, both personal and business-related.
- He is also accused of physically assaulting a minor.
These allegations could continue to weigh on HEX’s reputation, even as traders take advantage of its recent price surge.
HEX Still Faces Heavy Criticism
Even without the legal issues, HEX has its share of skeptics. Many critics argue that the token operates like a Ponzi scheme, promising unrealistic returns. Some of its boldest claims include potential gains of up to 11,500%.
Heart himself has admitted to using “tactics a scam might use,” a statement that hasn’t exactly helped his case. For now, HEX enjoys its moment in the green, but whether it can sustain this momentum remains to be seen.
