Money 2.0 Stuff: Initial Legal Defense Fund Offering

“In a new attempt to fight the U.S. Securities and Exchange Commission, Kin has launched a new fund, dubbed DefendCrypto.org. Kin, the crypto project led by messaging service Kik, has been in conflict with the SEC since 2017 when it launched a $100 million initial coin offering sale, which the SEC believes might have been an unregistered security issuance.

The company has put aside $5 million in preparation for a lawsuit and is now organising a fundraising campaign, addressing those ‘fed up with this innovation tax.’”