The market capitalization of HEX has decreased by almost $500 million since the SEC accused its founder, Richard Heart, of conducting an unregistered securities offering with the issuance of HEX in 2018. The lawsuit also affected the TVL of its sister layer-1 network Pulsechain, which fell by more than 50%. MetaMask and Uniswap have reportedly removed support for HEX transactions on their platforms, possibly due to the recent SEC action. However, this decision has been criticized by the HEX community and decentralization enthusiasts.