Share this article
Kik's Token Survives SEC Battle, No Barrier to Exchange Listings, Says Kin Foundation
The Kin Foundation says both itself and the Kin token have survived the recently resolved court battle with the U.S. SEC over a 2017 ICO.
Updated May 9, 2023, 3:12 a.m. Published Oct 23, 2020, 1:02 p.m.
Doubts over the the future of the Kin token project from messaging app firm Kik appear to have been dispelled.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- In a blog post Friday, the Kin Foundation, the non-profit set up to govern and promote the project, announced that both itself and the token have survived the recently resolved court battle with the U.S. Securities and Exchange Commission (SEC) over a 2017 initial coin offering.
- Now that Kik has agreed to a $5 million settlement with the SEC, the "cloud of uncertainty has dissipated," the foundation said.
- "Beyond the monetary fine, Kik’s assets are still Kik’s property, including its remaining treasury, its Kin reserves and all of its intellectual capital, according to the post.
- Kik is further able to carry on with "active development" of the open-source Kin SDK and the new Code wallet.
- The foundation also said that as the SEC isn't considering Kin a security and the judge didn't find the token in violation of securities laws, Kin "should be free to trade on exchanges."
- Going forward, with its reserves still "deep," the foundation said it plans to continue to grow the Kin ecosystem, bringing on board a new executive director next month.
- Additionally, a planned token migration to the Solana blockchain will go ahead and is "on schedule," it said.
- Aside from stumping up the $5 million penalty, Canada-based Kik must give the SEC 45 days' notice before any transactions of the token for the next three years.
Also read: Kik Must Pay SEC $5M, Judge Rules, Ending Yearlong Battle Over $100M ICO
More For You
需要了解的:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
需要了解的:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
