Kin coin

Court holds $100 million Kin coin offering violated federal law

Court holds $100 million Kin coin offering violated federal law
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The 2017 launch of the Kin cryptocurrency broke federal securities laws, a federal judge has ruled. Federal law requires anyone who offers a new security to the general public to register with the Securities and Exchange Commission. The messaging app maker Kik didn't do that when it sold $100 million worth of Kin in 2017.

The company argued that Kin was legally a new virtual currency, not a security. In a Wednesday ruling, Judge Alvin Hellerstein rejected that claim. The ruling could have big consequences for the cryptocurrency world.

Since 2016, hundreds of cryptocurrency projects have held Kin-like "initial coin offerings" that raised millions—in a few cases, hundreds of millions—of dollars. Few of these offerings went through the traditional steps required to register a securities offering with the SEC. So Wednesday's ruling could create legal headaches for existing blockchain projects launched via an ICO. It also limits the options for launching cryptocurrencies in the future.

Judge Hellerstein gave Kik and the SEC three weeks to come up with a joint recommendation on appropriate remedies. Kik says it is considering appealing the ruling.

How a cryptocurrency offering is like an orange grove

A security is an asset that investors purchase in hopes of making a profit. It includes traditional investment vehicles like stocks and bonds, but it also includes a catch-all category called an investment contract. The Supreme Court laid out the legal criteria for investment contracts in a landmark 1946 ruling.

In that case, a real-estate developer sub-divided a large orange grove in Florida and sold parcels to investors. He then offered the new landowners a service contract to grow and harvest oranges. The grove was organized as a single large operation with profits divided among participating landowners based on their acreage.


While the purchasers were officially buying land, the Supreme Court held they were effectively purchasing shares in an orange-growing business. That made them securities.

In his Wednesday ruling, Hellerstein concluded that similar logic applies to the Kin tokens Kik sold in 2017. Officially, Kin owners are not entitled to any profits generated by the Kin ecosystem. But practically speaking, people bought Kin because they hoped a thriving Kin ecosystem would push up Kin's value the same way that bitcoins and ether had become more valuable over time.

Hellerstein notes that Kik CEO Ted Livingston repeatedly touted Kin's potential as an investment opportunity. "If you could grow the demand for it, then the price—the value of that cryptocurrency would go up, such that if you set some aside for yourself at the beginning, you could make a lot of money," Livingston said.

Kik didn't dispute that some investors bought Kin hoping it would go up in value. But the company argued that Kin's primary function was to serve as "a general purpose cryptocurrency for use in everyday digital services such as chat, social media, and payments."

The problem was that this ecosystem didn't exist when Kik launched Kin in September 2017. Kin payments had not yet been integrated into the Kik app, and no one was yet offering goods or services in exchange for Kin. And as I wrote last year, even Kik's own employees didn't take Kin's supposed functionality at launch very seriously:

Kik knew it would be on firmer legal ground if it could point to some practical use for Kin tokens. So the company developed what it called a "minimum viable product"—a Kik feature that gave users access to digital sticker packs based on how many Kin they owned. Theoretically, this allowed the company to say it was selling a token for a currently functional network rather than asking people to make a speculative bet on a not-yet-developed technology.

But one executive wrote in June 2017 that the company's sticker-pack minimum viable product was designed "with one purpose only: COMPLIANCE. This is NOT an MVP for product purposes, nor to satisfy any good user experience for crypto participants. We discussed that once we integrate Kin into Kik we will rebuild the entire product bottom up and the MVP will not be used in any way."

In short, people who bought Kin tokens in 2017 weren't buying access to an existing Kin-based ecosystem. Rather, they were betting that Kik would be able to develop a Kin-based ecosystem in the months and years after the token offering. In other words, Hellerstein said, they were making an investment in Kik's project in hopes of making a profit. That made Kin a security.


The implications for other ICOs aren’t clear

It's not entirely clear how this analysis will apply to other cryptocurrencies. One key factor working against Kik was the fact that they used the Kin sale as a way to finance creation of the Kin network. As a consequence, the Kin didn't have any non-speculative uses at the time the sales occurred.

This was a common way to bootstrap a new cryptocurrency during the 2017 ICO boom, and the Kik ruling could slam the door shut on this method for getting a new blockchain project off the ground. Registering as a security comes with a lot of regulations. Complying with those regulations will, at a minimum, require a lot of legal work. And some cryptocurrency projects might not fit into existing SEC rules at all.

So in the future, new cryptocurrency projects may be forced to first raise money from traditional investors. The project can use this early money to build a network and hire lawyers to figure out the regulatory issues. Only then would it be safe to launch the network and offer the tokens to the general public.

This isn't impossible. Last year, the blockchain startup Blockstack raised $23 million in an SEC-approved token offering. But it did that only afterraising more than $5 million from traditional venture capitalists in earlier years.


Kin (KIN) live price in US dollar (USD). View value statistics, market cap and supply.

An overview showing the statistics of Kin, such as the base and quote currency, the rank, and trading volume.

Price to USD $ 0.000106
Price to BTC 0.000000002 BTC
Rank 263
24h volume $ 4.88 million
Market cap $ 177.83 million
Fully diluted market cap $ 1.06 billion
All-time high (daily avg.) $ 0.001268 on 1/7/2018

View the total and circulating supply of Kin, including details on how the supplies are calculated.

Total supply 1.68 trillion KIN
There are no burned, team or smart contract locked balances to subtract.
Circulating supply 1.68 trillion KIN
Verified supply Not updated yet
Circulating supply 1.68 trillion KIN
Total supply 1.68 trillion KIN
Max supply 10.00 trillion KIN
Issuance blockchain Solana

Top Kin exchanges

The top crypto exchanges that have Kin available for trading, ranked by 24h trading volume and the current price.

Exchange 24h volume

$ 2.05 million

$ 0.000108

$ 1.12 million

$ 0.000108

$ 1.26 million

$ 0.000104

$ 266,401.86

$ 0.000108

$ 115,955.30

$ 0.000085
All KIN exchanges

Top Kin markets

A list of the top Kin markets across all crypto exchanges based on the highest 24h trading volume, with their current price.

Market 24h volume

$ 2.05 million

$ 0.000108

$ 1.12 million

$ 0.000108

$ 1.26 million

$ 0.000104

$ 266,401.86

$ 0.000108

$ 66,334.49

$ 0.000091
All KIN markets
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kin currency price

Display the real-time Galaxy Score of any coin.

kin currency price

How does the KIN Coin work? This coin works by giving rewards to creators that provide a great experience for users in connection to their engagement with kin. It provided a model monetizing software that appealed to users to adopt the new use case and thus, created value for the cryptocurrency. It is stated that a maximum of 10 trillion KIN will ever be produced, and it was created in mass so that every user in kin currency price world can adopt KIN conveniently.

Kin Price Chart

Kin allows game creators kin currency price embed crypto rewards in their various applications. This allows the game players to get the KIN token whenever they perform some tasks on the platform. Players can also use these Kin tokens to purchase items within the game. Although this seems to already be a norm, the KIN token can be converted to cash and then withdrawn by players.

Kin Converter

Added to this, those who are rewarded with tokens can use these tokens in other games if they want. This is kin currency price to creators of multiple games as it helps them promote their other games on the platform.

Developers are not left out as they also get tokens when they use the platform. These price predictions inform traders about the long-term value as well as the short-term value of KIN to help them make their investment decisions and decide if they want to add kin to the crypto coins they trade on Binance. You can find KIN coins on platforms like Cointiger. The price of the kin currency price seems to have lost the day Moving Average but is above the day Moving Average. We more info expect the continuation of this trend in the short term.

Live Kin (KIN) Price, Historical Chart & Kin Market Cap

Thereafter, with the onset of the bear market, every coin dropped. Inthe price of KIN has already seen an increase in one year of around This significant increase in KIN price over the years shows that the odds are going to be in favor of KIN in the future. The cryptocurrency price has a good future and might prove to be a decent investment for all users. Digital coin forecast kin currency price KIN price will only increase and not decline as the year goes on.

kin currency price

Based on its kin forecast, it will be profitable to invest in KIN. This means that after the ending of the current bearish look, we might see a bull sentiment in the market. According to Wallet Investor analysis, the KIN price will not crash and will come out to be one of the decent cryptocurrencies in the future.

kin currency price

Also, Wallet Insider comments that it is not possible for the KIN price to change into a dollar anytime soon.]

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Kin currency price

Kin currency price - afraid, that

None of the information received from Cryptoonliner. All users must acknowledge their own risks of making investment decisions and use all the information provided at the present website at their own risk and at their own discretion. We will assume that you consent to the use of cookies and accept our terms and conditions and privacy policy by continuing to use our site. Kin allows game creators to embed crypto rewards in their various applications.

Kin currency price - authoritative point

If you are looking for very long term investment with good returns in Crypto market then you might consider this KIN coin. Kin Token possibly helping user and developer for spending real money alternative for incentives i. However, ecosystem sees huge growth in user and developer that result into recent growth in market cap volume and ranking too. Kin community driven project more likely to introduced new feature and all possible up-gradation in existing system. FAQ Not sure but it can take more than 10 to 15 years. Is Kin a Good Investment? Kin can be good investment but do your own research. Sours:


What Is Kin?

Kin is the cryptocurrency for the messaging service Kik. Kin has special uses within the Kik messenger platform. Users can earn Kin for making contributions to the broader Kik community, and then spend Kin on various goods and services within the Kik platform.

Key Takeaways

  • Kin is the cryptocurrency offered by the messaging service Kik, launched via an ICO in 2017.  
  • The Kin ICO raised roughly $100 million. 
  • Kik had a key advantage over certain cryptocurrency competitors as it already had millions of active users through its messaging platform.

Understanding Kin

Kin first launched in September of 2017 via an initial coin offering (ICO), raising roughly $100 million in investor funds over a period of about two weeks. Upon its launch, the founders of Kin described the Kin Ecosystem as "designed specifically to bring people together in a new shared economy," with the cryptocurrency itself acting as a "foundation for a decentralized ecosystem of digital services."

While most companies that launch their own cryptocurrency don’t necessarily have a ready-made user base, Kik had a key advantage here with millions of active users through its messaging platform. As such, the platform helped drive consumer adoption of the Kin cryptocurrency. The Kik app can house many of the traditionally third-party services and features for the currency, including the Kin wallet.

Although Kin was officially launched late in 2017, it comes on the heels of a large experimental campaign done by Kik. Over a period of close to three years, Kik ran a project called Kik Points. This was very similar to Kin in that it offered Kik users the chance to earn and spend points within the app itself. At its highest levels, Kik Points reached transaction volumes equal to three times more than Bitcoin. 

Kin Rewards Engine 

Perhaps even more notable about the launch of Kin is its Kin Rewards Engine. Through that, Kik launched Kin as a daily reward distributed among stakeholders by an algorithm based on the community's contribution to the ecosystem.

Ted Livingston—Kik CEO and founder—suggested that the Kin token is an opportunity to distribute value amongst developers. The idea is that Kik will give away value, incentivizing developers to "build an open and decentralized ecosystem of apps" on the Kik platform.

The Kin Foundation

The Kin Foundation focuses on the governance of Kin and focuses on "growing an open ecosystem of digital services." The ecosystem is not be based around advertising, as many social media platforms are, but rather on users being able to provide value to themselves and one another, and on those users being rewarded for that contribution.

Besides being a digital currency, the Kin website describes the token as "different from other digital currencies because it is a cryptocurrency." Kin is similar to Bitcoin in that it makes use of the public blockchain and has monetary value. The fact that Kin is part of a blockchain allows its developers to control the creation and flow of tokens to prevent a surge. Blockchain support also allows a token to be guaranteed over the long term.

As of July 12, 2021, Kin was ranked the 323rd cryptocurrency by market cap—per CoinMarketCap.

Future of Kin 

In 2019, Kik announced it would shut down its messaging service to focus on Kin. However, shortly after the announcement, the company was purchased by MediaLab. The messaging service remained intact, but this came shortly after the Securities and Exchange Commission (SEC) sued Kik for raising money in its Kin ICO without registering the offering. 

In 2020, the SEC ruled that Kik violated federal securities law by selling Kin in 2017 and was ordered to pay a $5 million fine. However, the messaging service was not required to shut down the Kin network, nor required to register Kin with the SEC. Thus, sales of Kin can still take place.


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