Blockchain

Kik Messenger to Shut Down as Company Shifts Focus to Kin

Kik Messenger to Shut Down as Company Shifts Focus to KinKik Messenger to Shut Down as Company Shifts Focus to Kin

Kik Interactive has announced that it is closing its messaging service due to a legal wrangle with the SEC over its cryptocurrency, Kin.

The troubled messaging app, which still has millions of users worldwide, has been involved in a legal battle with the United States Securities and Exchange Commission in recent months after the SEC announced it was suing Kik over the $100 million USD raised from an ICO in 2017. Bloomberg reported back in June that the SEC argues that the token used in the ICO, Kin, counts as a security and as a result, the sale should’ve been registered with the commission.

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