U.S. SEC Settles with Abra Over Unregistered Sales of Securities

Starting in 2020, the crypto investment platform and lender began offering Abra Earn to customers, promising high levels of returns for letting the firm use their assets, the SEC said in its complaint. At one point, the program had about $600 million, and almost $500 million was from U.S. investors. Also, for at least two years, Abra operated as an investment company without registering, the SEC said.