Kik, the Canadian born instant messaging application, recently announced on Twitter that it is “here to stay” despite all the recent inconveniences associated with the United States Security Exchange Commission (SEC).
At a point, where Kik is currently facing legal difficulties, Ted Livingston, the CEO of Kik, recently declared that the app has currently 300 million active users and that plans are underway with another company to buy the app. He also revealed that the app was being bought with the intent to take the Kin integration to a whole new level.
The takeover is also
being aimed at improving services for the millions of current users logged into
the system at the moment.
So, according to SEC, Kik messaging app is currently involved in a legal financial battle with SEC over an alleged $100 million token transaction that was apparently unregistered.
However, Ted Livingston pointed out that the new buyer is looking forward to keeping and expand the application’s close relation to Kin cryptocurrency whose monthly users currently stand at over 750,000 users. But, SEC’s claim is that Kik’s Initial Coin Offering raised an estimated $100 million which was unregistered.
Likewise, SEC’s management viciously denies these claims and has gone to the extent of spending a lot of money in a bid to reverse the recent ruling from the Security Exchange Commission.
At the time of their press release, the Security Exchange Commission declared that tokens were trading at about half the same value paid for the offerings by public investors. All this is despite the amount of money raised by Kin cryptocurrency.
Thus, buyers have been losing their investment at a drastic rate closing in at almost 90 percent of their initial investment. On a normal scale that is quite an astronomical figure which leaves the question:
“Is the risk really worth the reward?”
Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.
Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.
We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.