Abra Acquires Valkyrie Cryptocurrency Trusts in Major Deal

Points

• Abra acquires several cryptocurrency trusts from Valkyrie Investments.
• The acquisition includes Tron and Zilliqa trusts.
• Regulatory decisions impact Abra’s operations in the US.

Crypto trading platform Abra has acquired multiple private cryptocurrency trusts from Valkyrie Investments, including the Tron and Zilliqa trusts. This acquisition expands Abra’s range of spot and DeFi services for new clients.

Strategic Expansion

Marissa Kim, head of asset management at Abra, confirmed that the acquisition would enhance Abra’s offerings. Depending on market demand, some of these trusts might be made publicly traded.

Regulatory Impact

The Conference of State Bank Supervisors （CSBS） announced that Abra would cease accepting cryptocurrency from US customers for its Abra Trade accounts, halting all buying and trading activities. This decision follows accusations of insolvency and securities fraud against Abra in 2023, which led to a settlement with Texas regulators in January 2024.

解説

• Strategic Acquisition: Abra’s purchase of Valkyrie’s trusts expands its services.
• Regulatory Challenges: US regulatory decisions impact Abra’s operations and customer interactions.
• Future Potential: Depending on market demand, some trusts might become publicly traded, enhancing Abra’s market position.