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 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.
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.
Kik CEO Ted Livingston created the kin token so people could easily buy and sell digital stuff online. Now he's paying devs to make the stuff.