Kik app shutting down; Kin refocuses on adoption

Citing an ongoing 18-month battle with the U.S. Securities and Exchange Commission (SEC), Kik CEO Ted Livingston has announced that the app will be shutting down, impacting more than 100 employees. According to Livingston, the company had the choice to acquiesce to the SEC's claim that Kin ($KIN) is a security or fight in court, choosing the latter with a smaller 19 person team.

In the interim, the team will focus exclusively on Kin adoption, building out demand for the token and third-party applications built on the blockchain.