Jun 4, 2019

SEC sues chat app Kik over its $100 million token sale

Illustration: Rebecca Zisser/Axios

The U.S. Securities and Exchange Commission on Tuesday filed suit against Canadian chat app Kik, alleging that its $100 million token sale in 2017 should have been registered as a securities sale. Kik has argued the tokens should be classified as currency, as they're used to buy and sell digital goods.

Why it matters: This case could result in greater clarity on the legal status of digital tokens.

Go deeper: Kik goes to court over crypto debate

Go deeper

Serological coronavirus testing could be key to economic reopening

Illustration: Sarah Grillo/Axios

America's economy won't reopen anytime soon, despite frantic CEO whispers, but a glimmer of hope may be emerging in the form of serological testing.

Why it matters: Serologic tests aren't to determine whether or not you're infected with coronavirus. They are to determine if you have potential immunity that could allow you to safely return to work.

Government tech struggles to dole out coronavirus stimulus cash

Illustration: Eniola Odetunde/Axios

Tech challenges are hampering federal and state government efforts to get funds from the $2 trillion coronavirus relief law into the hands of newly unemployed workers and struggling small businesses who need it.

Why it matters: Many businesses and individuals need the money now for essentials, including meeting payroll and paying rent.

U.S. coronavirus updates: Death toll passes 9,600

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

Recorded deaths from the novel coronavirus surpassed 9,600 in the U.S. on Monday, per Johns Hopkins data. More than 1,000 people in the U.S. have died of coronavirus-related conditions each day since April 1.

Why it matters: U.S. Surgeon General Jerome Adams said on Sunday the coming week will be "the hardest and saddest week of most Americans' lives" — calling it our "our Pearl Harbor, our 9/11 moment."

Go deeperArrowUpdated 3 hours ago - Health