Abra Cease-and-Desist afslører bånd til Binance og Prime Trust - Dekrypter

Abra Cease-and-Desist afslører bånd til Binance og Prime Trust – Dekrypter

Tidsstempel: 16. juni 2023 kl. 3
Abra Cease-and-Desist Reveals Ties to Binance and Prime Trust - Decrypt PlatoBlockchain Data Intelligence. Vertical Search. Ai.

Abra Kadabra! Og det er væk.

Cryptocurrency investment company Åbent has been issued an nødstilfælde og standse ordre by Texas securities regulators.

Authorities claim the cryptocurrency company, also known as Plutus Financial, and Chief Executive Officer Bill Barhydt have engaged in securities fraud. The enforcement order also states it offered investment products to unaccredited investors and that the company has been at least partially insolvent since March 31, 2023.

Ifølge Texas Securities State Board udsendte Texas Enforcement Division den 12. maj 2021 en advarsel til Barhydt om, at Plutus Financials produkter så ud til at udgøre investeringskontrakter eller værdipapirer. Staten nedsatte en arbejdsgruppe, der skulle undersøge kryptovalutavirksomheden yderligere.

Abra har forsøgt at argumentere imod den karakteristik i sin markedsføring.

“Earn users take no investment-like risks when they deposit digital assets into Interest accounts,” the company sagde sidste år. “Rather, Earn users are simply moving or placing their existing assets into their Interest Accounts with the possibility of receiving interest, but notably, no risk of an investment-type loss.”

Investigations reveal, however, that Plutus Financial has been “touting” their risk management strategy as compared to the now-defunct Rejse digitalt , Celsius netværk.

The order also states that despite a letter from CEO Bill Barhydt, claiming the company had no exposure to the FTX kollaps, a subsidiary of Plutus Financial did have more than $12 million in assets on the platform run by Sam Bankman Fried.

Abra also allegedly held or currently holds nearly $30 million on Babel Finance, $30 million (or more) on Genesis, and roughly $10 million on Three Arrows Capital (3AC). All three of those companies have been touched by bankruptcy in the past year.

Last, but certainly not least, Texas state authorities claim that Abra has been winding down their Earn product, and transferring assets to Trade accounts. The company has been “secretly transferring” these funds to Binance, according to authorities. As of February this year, balances for Abra on the platform are valued at roughly $118 million.

På trods af advarslen fortsatte virksomheden med at tilbyde og sælge investeringsprodukter – gennem Abra Earn og Abra Boost – indtil omkring den 3. oktober 2022, sagde tilsynsmyndigheder.

Abra svarede ikke umiddelbart på en anmodning om kommentar fra Dekryptér. 

Udover at tilbyde og sælge investeringskontrakter, der ligner værdipapirer, hævder arbejdsgruppen også, at Abra "lavede tilbud, der indeholdt udsagn, der er væsentligt vildledende eller på anden måde sandsynligt vil vildlede offentligheden."

Abra states Prime Trust as their main custodian, which according to Texas authorities, does not operate with a money transmitter license in the state.

Fra den 17. maj 2023 hævder Abra 49 millioner dollars i aktiver under forvaltning (AUM) på vegne af 229 Boost-investorer, hvoraf 23 er Texas-baserede. Virksomheden hævder også at have $66 millioner på vegne af 9087 Earn-investorer, hvoraf 827 bor i den enlige stjernestat.

This is not the first time federal charges have been brought against Abra. In July 2020, the SEC opkrævet the company with selling security-based swaps without registration. Similarly, the CFTC opkrævet the company with engaging in illegal off-exchange swaps with overseas customers, namely from the Philippines. The company paid $300,000 for these two penalties.

Statens myndigheder i Texas har ikke fastsat en dato for en officiel høring, men har givet kunderne lov til at hæve penge fra platformen indtil videre.

Hold dig opdateret med kryptonyheder, få daglige opdateringer i din indbakke.

Tidsstempel:

Mere fra Dekryptér