Cryptocurrency exchange HitBTC, without any announcements or explanations, suspended the Kin token trading.
Kin trading on HitBTC was discontinued about 40 hours before this publication, that is, shortly after it became aware of the Kik claim filed by the US Securities and Exchange Commission (SEC).
Kik is accused of unregistered sales of securities through ICO in 2017, during which, through the sale of Kin, it managed to raise almost $ 100 million. The company, for its part, accuses the SEC of misinterpreting securities laws. Against the background of these events, the American crypto companies Coinbase and Circle have already refused to participate in the Defend Crypto initiative, which was aimed at raising funds to protect Kik from the SEC.
As The Block Director of Research Larry Cermak notes, HitBTC remained the only centralized cryptocurrency exchange with real liquidity in Kin markets. Now Kin is trading either on exchanges with, presumably, fake trading volumes data, or on decentralized exchanges, such as Bancor and EtherDelta