RATE Group | Libra Rival Kin Savages Facebook’s Cryptocurrency
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Libra Rival Kin Savages Facebook’s Cryptocurrency

17 Jul Libra Rival Kin Savages Facebook’s Cryptocurrency

Posted at 00:59h in Cryptocurrency News by

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The makers of Kik’s Kin cryptocurrency, which itself is no stranger to regulatory issues with the US government, do not feel one shred of sympathy for Facebook as Congress rakes Libra over the coals on Capitol Hill.

The chat app, with its more than 300 million registered users, made waves during the 2017 gold rush when it held a nearly $100 million initial coin offering (ICO), only to have social media leviathan Facebook and its 2 billion users steal its thunder two years later.

Look Who’s Talking

kin cryptocurrency
Kin has run afoul of US securities regulators at the SEC. | Source: Shutterstock

At launch, the token provided little or no utility – despite its lofty ambitions – and regulators have sued the company for allegedly dealing in unregistered securities.

Kik has decided to go to the mat with the SEC, and has received wide support from the crypto community.

Now that Facebook is tepidly entering the crypto space, Kin Ecosystem General Manager Alex Frenkel commented in remarks shared…

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