**According to an emergency cease-and-desist order from the Texas State Securities Board, the cryptocurrency firm Abra is “insolvent or nearly insolvent.” The filing alleges that a group of state securities regulators has been investigating Abra, and the working group interviewed William Barhydt, the company’s founder, in March 2023.**

Texas State Regulators Issue Cease-and-Desist Order, Citing Insolvency Claims Against Crypto Firm Abra

The Texas State Securities Board (TSSB) has issued an emergency cease-and-desist order against the company Abra and its network of subsidiaries. The notice alleges that Abra and its affiliate companies are “collectively insolvent or nearly insolvent.” The order also named Plutus Financial, Plutus Lending, Abra Boost, and the firm’s founder, William John “Bill” Barhydt. 

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