Kik raised $98M with a potentially illegal ICO. Now it wants your money to fight the SEC

Kik, the embattled messaging startup behind the Kin cryptocurrency, is now crowd-sourcing donations to help fund its legal battle with US regulators. The Defend Crypto Fund is said to be tailored specifically to fight the US Securities and Exchange Commission (SEC) “on behalf of the future of crypto in the [United States].” So far, Kik itself has contributed $5 million to the fund, which is apparently held in special Coinbase accounts. Earlier this month, Coindesk quoted its CEO saying the firm had spent at least $5 million throughout the ordeal already. “Any additional contributions will be held with Coinbase and will only…

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