Ted Livingston, CEO of Kik and the founder of the Kin Foundation, and Patrick Gibbs, partner at Cooley, announce the formation of the $5 million DefendCrypto.org fund at Coinbase Custody to fight the SEC in court. Kik and Kin are hoping that a lawsuit would eventually result in a new Howey test for crypto tokens, to determine which ones are a security. In this episode, they explain has happened so far between them and the SEC to bring them to this point and what their main arguments are. Plus they defend themselves against some of the evidence against their case and we discuss what they can expect going forward.
Read the full show notes on Forbes.com: http://www.forbes.com/sites/laurashin/2019/05/28/kin-launches-5-million-defendcrypto-fund-to-take-on-the-sec/
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Episode links:
DefendCrypto: https://www.defendcrypto.org
Kik: https://www.kik.com
Kin: https://www.kin.org
Ted Livingston: https://twitter.com/ted_livingston
Patrick Gibbs of Cooley: https://www.cooley.com/people/patrick-gibbs
Kik’s Wells response: https://www.kin.org/wells_response.pdf
Kin white paper: https://www.kin.org/static/files/Kin_Whitepaper_V1_English.pdf
The DAO report: https://www.sec.gov/litigation/investreport/34-81207.pdf
Kathryn Haun of A16z Crypto's blog post: https://a16z.com/2019/05/15/kik-and-the-sec-whats-going-on-and-what-does-it-mean-for-crypto/
Importance of the Kik and Kin Foundation case by the Blockchain Association: https://medium.com/@BlockchainAssoc/the-potential-kik-and-the-kin-foundation-case-has-major-consequences-for-the-open-blockchain-de8ed616a1c
Breaker Mag on Kik's fight with the SEC: https://breakermag.com/how-kiks-looming-sec-fight-could-unfold-and-why-it-will-define-blockchains-future/
Video of Ted at the San Francisco Meetup: https://youtu.be/rqN7srwqRf8
Kik chooses Stellar: https://www.coindesk.com/two-chains-no-more-kik-selects-stellar-over-ethereum-for-crypto-token-launch
Kik chooses Stellar and Ethereum: https://www.coindesk.com/ethereum-and-stellar-mobile-messenger-kik-embraces-two-blockchains
Next Web story: https://thenextweb.com/hardfork/2018/12/06/kik-kin-cryptocurrency-blockchain-2/
Kik pre-sale: https://www.coindesk.com/mobile-messenger-kik-raises-50-million-ahead-75-million-ico
https://www.coindesk.com/why-big-investors-are-betting-real-money-on-a-kik-cryptocurrency
SEC Framework: https://www.sec.gov/corpfin/framework-investment-contract-analysis-digital-assets
Token Taxonomy Act: https://medium.com/@BlockchainAssoc/the-token-taxonomy-act-is-back-and-we-need-it-more-than-ever-d2cbf0154776
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