Kik messaging platform will stay but it will be working under MediaLab that has purchased it.
Despite the battle against the US SEC Kik will not shut down. It has been announced that Kik is going to struggle for its existence.
CEO of the once-popular messaging app Kik has indicated that the firm will go to trial against the United States Securities and Exchange Commission of classification of their Cryptocurrency token Kin as a security.
Kik Interactive CEO Ted Livingston announced today that the company is shutting down Kik Messenger to focus on its cryptocurrency Kin, the target of a lawsuit filed by the Securities and Exchange Commission.
Kik kicked back at the SEC lawsuit that claims a $100 million ICO was illegal. The company behind Kik Messenger filed a response in U.S. District Court for the Southern District of New York, alleging that the SEC is “twisting” the facts about its token.
The U.S. Securities and Exchange Commission is suing messenger app maker Kik for $100 million ICO for its Kin token which they think was an unregistered securities sale. The regulator appears to have built up a strong case in its initial court move.
In a blog post, Kik Ceo Ted Livingston explained how Facebook’s coin may replace the US dollar as the global reserve currency.
It seems that Facebook is in “hot water” again as the company stored millions of user passwords improperly for years.
The company will challenge the U.S. regulators in court over a potential enforcement action against 2017 KIN token offering.
Mainstream chat app Kik raised nearly $100M for its new Kin token to be used by messenger’s 15 million audience as the primary transaction currency.