Rather than turn "Defend Crypto" into the Kik legal defense fund, the team split out its $5 million legal budget from a $2 million grant to the @BlockchainAssn to help other teams facing similar pressure.
Great move for Kik.
Great for the industry.
Proud to support. 👏 https://t.co/mKJ8lhaO6b
so is this you 'telling us'? "Kik will take back the original $5 million it had donated to get the fund off the ground. The remaining money be under the Blockchain Association’s care and will go towards protecting crypto assets."
Why? The $5m of Kik's money along with anything donated was for Kik's case before anything else.
Now, the $5m is still going towards Kik, but the other funds can be used for other projects immediately.