June 16, 2024

Kik CEO intends to fight with SEC until the last

Kik CEO intends to fight with SEC until the last

Kik founder and CEO Ted Livingston announced his intention to continue the fight with the US Commission onUS Securities and Exchange Commission (SEC) for Kin, the company's own cryptocurrency.

We mustn't stop.The end will not come until we have not a single dollar, not a single person left. We will continue, no matter how hard it is, – Livingston said at the Elevate conference in Toronto this Wednesday.

Kik raised $100 in 2017million through an Initial Coin Allocation (ICO). In turn, the SEC believes that the company issued unregistered securities. At the time, Livingston claims that the tokens are so-called “utility” tokens. Kik also intends to review whether the SEC has the authority to litigate against Kik since it is a Canadian company.

Recall that earlier this week, the company announcedabout the closure of the popular Kik messenger and the layoff of employees. The company will now focus on converting Kin users into Kin buyers.

No matter what happens to Kik, Kin will remain here, – Livingston said.