SEC’s Findings about Kik’s Illegal Securities Offering

5 Jun, 2019 17:28
source: 香港奇点财经 Singularity Financial

U.S. Securities and Exchange Commission (SEC) filed a complaint Tuesday showing Canadian mobile messaging startup Kik conducted an “illegal $100 million securities offering” with a September 2017 initial coin offering (ICO) for its kin token.
The complaint has shown the following findings.
1. Kik was burning money;
2. No company wanted to buy Kik;
3. Kik shared more info with certain private buyers;
4. Kik helped kin investors to obtain more special digital stickers;
5. Kik CEO publicly announced that token boom would come;
6. Kik’s offering qualified as a security, according to Ontario Securities Commission (OSC);
7.The U.S. based investors paid a huge amount of money into public sale.