SEC Gets Tough, Sues Kik For Non-Registration | FintekNews

  • Way, WAY back in 2017, Kik (an online messaging app) did an initial coin offering (ICO) and raised $100 million from investors.
  • “The U.S. Securities and Exchange Commission (SEC) is suing Kik for allegedly running an unregistered securities sale when it launched an initial coin offering (ICO) for its kin token in 2017.
  • As alleged in the SEC’s complaint, Kik had lost money for years on its sole product, an online messaging application, and the company’s management predicted internally that it would run out of money in 2017.
  • The post SEC Gets Tough, Sues Kik For Non-Registration appeared first on FintekNews.

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