Crypto lender Abra has been insolvent since March, says Texas regulator By Cointelegraph
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Crypto lending firm Abra, which once handled more than $116 million in assets, had allegedly committed securities fraud and has been insolvent since March 31, according to Texas regulators.
In a June 15 enforcement action — including an emergency cease and desist order — the Texas State Securities Board accused Abra and its founder William Barhydt of committing securities fraud as well as engaging in deception regarding the sale of investment products through its affiliates Abra Earn and Abra Boost.
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Crypto lending firm Abra, which once handled more than $116 million in assets, had allegedly committed securities fraud and has been insolvent since March 31, according to Texas regulators.
In a June 15 enforcement action — including an emergency cease and desist order — the Texas State Securities Board accused Abra and its founder William Barhydt of committing securities fraud as well as engaging in deception regarding the sale of investment products through its affiliates Abra Earn and Abra Boost.
Continue Reading on Coin Telegraph
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