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Cryptopolitan 2019-10-09 05:28:17

KIK messaging app sell-off likely amidst regulatory issues

Ted Livingston, the Chief Executive Officer of the Kik messaging app claims that the messaging service might not close down just yet, as there is a potential buyer for the platform. Livingston announced the application’s shutdown on September 24, while explaining that the application alone costs the company over one million dollars ($1mil) per month and that these funds should be focused on fighting the legal battle with the United States Securities and Exchange Commission (SEC). SEC and KiK messaging app The SEC declared the company’s 2017 Initial Coin Offering (ICO) an unregistered securities offering. The Chief Executive stated that

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