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Mid-sized companies and non-profits are increasingly converting their assets into bitcoin, according to Bill Barhydt, chief executive of Abra, a digital asset services platform. The trend follows a strategy successfully implemented by MicroStrategy, which has seen its share price appreciate due to its large holdings of bitcoin. Barhydt expects that many mid-sized companies and non-profits with large dollar reserves will convert these reserves into bitcoin, and their shares will emulate the rally...
Digital investment platform Abra and its founder and CEO William Barhydt have reached settlements with financial regulators in 25 states. Abra will refund up to $82 million in cryptocurrency to U.S. customers in those states for operating its mobile app without the proper license. The settlement requires Abra to stop accepting cryptocurrency distribution and trading from U.S. Abra Trade customers. Barhydt also agreed not to participate in any capacity in the transfer or servicing of funds within...
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