The Kik project, one of the largest ICOs in 2017, is closing the flagship chat app that promised to bring crypto adoption to a mass audience. The Canadian company has been fighting a lawsuit from the US Securities and Exchange Commission, which dealt the final blow to the company.
Ted Livingston, the company’s CEO, announced the new pivot of the project in a recent blog posting. Outside the official announcement, Livingston reportedly contacted the CoinDesk crypto outlet with hints that he is leaving the project to avoid potential troubles with the law.