Abra Settles With 25 States for Operating Without Licenses, Will Return Up to $82M to U.S. Customers

“The
corresponding
consent
orders
will
settle
all
state
matters
related
to
the
Abra
App
in
the
U.S.
for
the
period
from
March
2021
to
June
2023,”
the
spokesperson
said.
“Since
June
2023,
99%
of
assets
held
by
U.S.
retail
customers
of
Abra
using
the
Abra
App
have
already
been
returned
–
over
$250
million.
Abra
continues
to
operate
in
the
United
States
through
Abra
Capital
Management,
an
SEC-registered
investment
advisor,
that
allows
clients
to
invest
in
crypto,
earn
yield,
stake
and
borrow
against
their
crypto
holdings.”