Kik’s founder, Ted Livingston, claimed the agency was “playing dirty” in an effort to strengthen its case. “What really surprised us is just what lengths the SEC went to twist the facts,” he told CoinDesk two months after the filing. “They cut quotes and [took them out of context] and that’s something we didn’t expect from the SEC.”

The company maintained that its public offering of kin tokens was not a securities sale, and expressed a strong desire to go to trial as soon as possible in a Jan. 9, 2020 court document. But a public battle with the SEC is hardly the instant messenger’s only problem.

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