US SEC settles unregistered sales of securities with Abra

Starting in 2020, the crypto investment platform and lender began offering Abra Earn to customers, promising high levels of returns to allow the company to leverage its assets, the SEC said in its complaint. At one point, the program had about $600 million, and nearly $500 million came from American investors. Also, for at least two years, Abra operated as an investment company without registering, the SEC said.