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.”