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Kik vs SEC – The Lawyers Speak

The SEC's complaint against Kik, after it raised $100 million in an ICO, seemed pretty brutal, but not so fast, we're only hearing one side of the story. Watch more here as three lawyers discuss the case, its merits and its potential impacts for the crypto industry as a whole.

By Bailey Reutzel, Evan Engel
Updated Sep 13, 2021, 9:19 a.m. Published Jun 14, 2019, 9:28 p.m. 1 min read
Kik, SEC
SECRegulationinvestmentsICOsRegulationsinitial coin offeringsKikKinLegalFeaturesbusiness newsMarkets Newsus-canada

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A massive $1.26 billion sale of BlackRock’s IBIT was likely a rapid exit by a large investor

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NYDIG, meanwhile, rejected the basis-trade theory, citing the large discount and the lack of an unusual spike in corresponding CME bitcoin futures volume.

What to know:

  • A $1.26 billion block sale of BlackRock’s IBIT shares was likely a rapid exit by a large investor, not an arbitrage unwind, according to NYDIG.
  • The seller of the $1.26 billion IBIT block accepted a 2.3% discount ($29.5 million loss), signaling a priority on speed and certainty over maximizing price.
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