SEC Charges Kik With Conducting $100M Unregistered ICO
This was inevitable. As I said two years ago[1], just listen to Kik&#x27;s own words:<p>&quot;When we looked at raising another round [of VC funding], we asked ourselves how do we answer the question about how we will become a profitable business [...] We didn’t have an answer we really believed.&quot;<p>... so instead they decided to raise money from unsophisticated investors in an unregulated market, where nobody asks such inconvenient questions! No surprise that the SEC is upset.<p>[1] <a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=15245656" rel="nofollow">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=15245656</a>