CEO of Kik drunk that he wants to quit: I am not going to jail

It looks like the CEO of Kik Ted Livingston wants to throw in the towel. In 2009 he started the Kik messenger app, but the end is in sight. He confirms this by sending a drunk message to the wrong person.

It is not the drink that speaks

In a wrongly addressed message apparently sent under the influence of alcohol, Livingston said he plans to leave the project. This would be because he feels totally uncomfortable with the ongoing battles with US regulators.

“Will, I know I’ve been drinking, but this isn’t the drink that speaks, I’m tired of this shit,” he wrote.

It is not clear who the recipient is, but it seems that this message was actually intended for Kik board member William Mougayar.

I’m not going to jail

“We talk more about replacement in the morning, but I stop,” he said, adding, “I have my ticket.” I’m not going to jail here. “

Livingston deleted the message after it was received by this reporter, who is also called Will. When asked to clarify his comments, Livingston replied “no comment.”

Incidentally, the well-known trader Tone Vays does comment:

Just as a reminder, here are the original tweets. I normally go this much out of my way for “I told you so” but in this case it’s important. I don’t feel bad cause the $ KIN token was scammy & probably criminal hence some of us saw the bullshit! https: //t.co/2xglhliIRP

– Tone Vays [Bali – Financial Summit] (@ToneVays) September 24, 2019

One hundred million dollars at ICO

It doesn’t bother Kik. The company is based in Ontario and since 2017 they are competing against the US Securities and Exchange Commission (SEC). Commitment? The one hundred million dollars that Kik has brought in with their ICO. The SEC is of the opinion that this is an unregistered securities offering. And just like in the Netherlands, certain securities laws apply.

Violation of those laws has major consequences.

Message service stops, altcoin continues

Yesterday, Kik announced that the charge has taken its toll. They now stop their messaging service. Livingston thinks it is important that the accompanying altcoin KIN is still supported:

“Kin is a currency used by millions of people in dozens of independent apps. So, although the SEC might push us around, banning the broader Kin Ecosystem will be a much bigger fight. And the ecosystem is about to become much stronger. “