Kik, a popular chat app developed by Kik Interactive, a Startup based in Waterloo, Canada. The company is headed by an entrepreneur who once worked for Blackberry, and he reportedly had some legal disputes with his former employer over a music app, according to the sources that lead him to create Kik, a very popular chat app used by millions of young adults around the world, so you could say the CEO, like a battle harden soldier, ready for a fight.
According to the Wall Street Journal, Kik Interactive, created a total of 10 Trillion Tokens called Kin, and sold One Trillion to the public and raised $100 million.
The CEO of Kik, Ted Livingston says Kin works just like currency on Kik’s platform, therefore, it is not a security. However, the SEC, believes that the way Kik raised money from investors was illegal, and it has broken the securities regulation because it didn’t register with the SEC and lacked proper disclosure to investors.
The stakes couldn’t be higher, the company based in Waterloo, expecting a clear victory in its favor, and Mr. Livingston hoping to defeat SEC like Duke Willington defeated Napoleon, and declare himself Duke Livingston of Waterloo!
Duke Livingston’s fate will be decided by a Judge, Crypto Entrepreneurs and Scammers around the world are watching, very closely.
Editor
