We Must Fight SEC, - Kik CEO

Ted Livingstom also believes that crypto is a only tool to counteract an increasing concentration of wealth
26 September 2019   717

The founder of the Kik messenger, Ted Livingston, said that he was ready to defend Kin's own token with the US Securities and Exchange Commission (SEC), reports The Canadian Press.

We have to keep going. Until that’s it, we don’t have a dollar left, a person left. We will keep going no matter how hard it is.
 

Ted Livingston

CEO, Kik

Kik got involved in the SEC due to his initial coin offer (ICO) held in 2017. According to SEC, the company sold unregistered securities.

Livingston, for its part, states that Kin is being actively used to solve practical problems, and the defeat of Kik will mean that the existing legal system is not applicable to new financial technologies. He also claims that Kin is used in 60 different applications, while complaining that the SEC lawsuit has slowed the spread of cryptocurrency.

Cryptocurrencies are the only way, the only tool we have now that we can counteract that, [an increasing concentration of wealth] where we can build a new economy with a new form of money where we can rewrite the rules for how wealth and value is created in a global society.

Ted Livingston

CEO, Kik

According to Livingston, they will meet with the SEC in court in May 2020.

Neo Foundation to Withdraw $11M From Cold Wallet

These funds will be used to finance its operations in currrent reporting year and $190M are stiill in the vault
26 March 2020   892

On March 25, the Neo Foundation announced the withdrawal of 1,660,865 NEO ($ 11 million) from the cold wallet to finance its activities in the current reporting year. About $ 190 million are still in reserves.

According to rules established in the Neo White Paper, the NEO tokens maintained by the Neo Foundation are mainly used to continuously support Neo's technological development, ecosystem growth, community expansion and the normal operations of the foundation and related organizations. 

 

Neo Foundation

According to the publication, 1,660,865 NEOs were transferred “from a blocked account to a current account”. As the information on the blockchain shows, these funds were directed to an address containing 14.6 million NEO or about $ 100 million. The project does not disclose who controls this address and what fate awaits the released tokens.

White paper Neo suggests that project costs in any given year should not exceed 15 million tokens. In the near future, a financial report for 2019 will be published.

At the time of publication, NEO is the 23rd largest asset on the market with a capitalization of $ 479 million. The price of one NEO is $ 6.79.