SEC Negotiations Have Cost Kik $5 Million, Says CEO
Kik's CEO says the company has spent more than $5 million talking to the SEC about whether its kin ICO was an unregistered securities sale.
This article has been updated to rectify inaccuracies in our original reporting.
In a company blog post, Livingston said the ongoing dispute with the SEC has forced Kik to close its doors.
Kik has sold its messaging business to a holding company called MediaLab but plans to continue enabling Kin on the platform
Kik CEO Ted Livingston discussed his company's legal fight with the SEC on CoinDesk Live last week.
The U.S. Securities and Exchange Commission has filed suit against Kik over its 2017 initial coin offering.