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Abra (company)

From Wikipedia, the free encyclopedia
Abra
TypePrivate
IndustryFinancial services
Founded2014
FounderBill Barhydt
Headquarters
Mountain View, California
,
US
Area served
Worldwide
Key peopleBill Barhydt (CEO)
ServicesInstitutional wealth management, prime brokerage, treasury services[1]
Websitewww.abra.com

Abra is a cryptocurrency wallet and exchange, and digital asset services company with offices in several countries. Its offerings include Abra Private, an SEC-registered investment advisory service for high-net-worth investors and family offices; Abra Prime, a prime broker for digital asset trading, lending, and derivatives; and Abra Treasury, which enables companies to add Bitcoin and digital assets to their corporate treasury.[2][3]

History

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Abra was founded in 2014 in the Silicon Valley by Bill Barhydt, a former fixed income analyst for Goldman Sachs and former director of Netscape.[4][5]

In June 2018, The Wall Street Journal listed Abra among its "Top 25 Tech Companies to Watch in 2018".[6][7]

In September 2021 Abra announced that it had raised an additional $55M in Series C funding bringing its total raised to date to over $85M.[8] Investors in the financing included American Express Ventures, Blockchain Capital, Kingsway Capital and CMT Digital Ventures.[9][10]

Abra and Barhydt started the YouTube series Money Talks. Interviews have included MicroStrategy CEO and Bitcoin supporter Michael Saylor, Ethereum founder Vitalik Buterin, Bitcoin Cash supporter Roger Ver, Zcash creator Zooko Wilcox, Bitwise CEO Hunter Horsley, and venture capitalists Tim and Adam Draper.

In 2021 Forbes named Abra one of its next Billion-Dollar Startups.[11] The company expanded its focus toward institutional digital asset services, including asset management and trading infrastructure for professional investors.[12]

In March 2026, Abra announced plans to go public through a SPAC merger valued at approximately US$750 million, with plans to list on the Nasdaq.[13][14]

Regulatory issues

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In June 2023, the Texas State Securities Board filed an emergency cease and desist order against Abra, alleging insolvency and misleading practices. Abra reached a settlement in 2024 that allowed withdrawals for affected investors.[1] In July 2025, Abra reportedly paused withdrawals for some international clients, prompting concerns among users about liquidity and platform stability.[15][16]

References

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  1. 1 2 Campbell, Tessa (15 January 2025). "Abra Review 2025: Pros, Cons, and Alternatives". Business Insider.
  2. ↑ Abra. "Abra | Crypto Wealth Management". Abra. Retrieved March 17, 2022.
  3. ↑ Hacket, Robert (2019-02-25). "Abra CEO: Enterprise Blockchains Will 'Fail Miserably'". Fortune. Archived from the original on 2019-02-28. Retrieved 2026-03-27.
  4. ↑ Tepper, Fitz (September 10, 2015). "Abra Raises $12M In Series A Funding For Its Bitcoin-Based Remittance Service". TechCrunch. Retrieved March 11, 2017.
  5. ↑ Eugenios, Jillian (June 9, 2015). "Your bank account: The next thing to go obsolete". CNN. Archived from the original on June 11, 2015. Retrieved March 11, 2017.
  6. ↑ Pettit, Dave (June 12, 2018). "WSJ Top 25 Tech Companies to Watch 2018". The Wall Street Journal. ISSN 0099-9660. Retrieved July 12, 2018.
  7. ↑ Jessel, Ben. "What Stellar's Investment In Abra Means For The 'Robinhood Of Cryptocurrency'". Forbes. Archived from the original on 2025-09-07. Retrieved 2026-03-27.
  8. ↑ Ossinger, Joanna (2021-09-15). "Crypto Platform Abra Raises $55 Million in Series C Funding". Bloomberg. Archived from the original on 2021-09-15. Retrieved 2026-03-27.
  9. ↑ Harty, Declan (September 15, 2021). "Crypto wealth management startup Abra raises $55 million in heat of digital asset boom". Fortune. ISSN 2644-2906. Archived from the original on September 15, 2021. Retrieved September 15, 2021.
  10. ↑ Nair, Shalini MP (2021-09-16). "Crypto wealth platform Abra secures $55m Series C investment". Private Banker International. Retrieved 2026-03-27.
  11. ↑ Feldman, Amy. "Next Billion-Dollar Startups 2021". Forbes. Retrieved February 4, 2022.
  12. ↑ "Crypto Startup Abra Enters Institutional Asset Management Business". Blockworks. Archived from the original on 2024-04-14. Retrieved 2026-03-27.
  13. ↑ Rodrigues, Francisco; Reback, Sheldon (2026-03-16). "Crypto wealth platform Abra to go public via $750 million SPAC deal". CoinDesk. Archived from the original on 2026-03-16. Retrieved 2026-03-26.
  14. ↑ "Crypto Firm Abra to Go Public on Nasdaq in $750 Million SPAC Deal". Yahoo Finance. Archived from the original on 2026-03-17. Retrieved 2026-03-27.
  15. ↑ "Crypto lender Abra pauses withdrawals as dozens of customers fear their funds are gone". DL News. Archived from the original on 2025-07-29. Retrieved 2026-03-27.
  16. ↑ "Abra Halts Withdrawals for International Clients". forklog.media. 2025-07-30. Archived from the original on 2026-01-17. Retrieved 2026-03-27.
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