Crypto lender Abra has been bancrupt or practically bancrupt because the finish of March, Texas regulators stated Thursday.
In an emergency stop and desist order, the Texas State Securities Board alleged that Abra, its associated entities and founder William John “Invoice” Barhydt dedicated securities fraud.
Abra provided and offered investments in its yield packages Abra Earn and Abra Enhance that contained “statements which are materially deceptive or in any other case prone to deceive the general public,” the regulator stated.