ABFinance, a U.S.-based cryptocurrency exchange launched by Helen Liu, the former co-CEO of Bybit, announced on Aug. 14 via X that it has suspended operations. The exchange, which had positioned itself as a regulation-compliant platform for U.S. traders, cited the challenging regulatory and market environment as the reason for the halt.
Background and Launch
Helen Liu, who previously served as co-CEO of Bybit, a major global crypto exchange, revealed plans for ABFinance in March on X. She stated that the new venture had obtained a license aligned with U.S. regulatory requirements, aiming to offer a compliant trading venue in a market where many international exchanges had faced scrutiny. The exchange’s launch was seen as a notable move, given Liu’s experience and the growing demand for regulated crypto services in the U.S.
Reasons for Suspension
While ABFinance did not provide detailed specifics, the suspension reflects broader trends in the U.S. crypto industry. Regulatory uncertainty, compliance costs, and a shifting market landscape have led several exchanges to reassess their operations. The SEC’s aggressive enforcement actions and the collapse of major players like FTX have heightened the bar for regulatory compliance, making it difficult for smaller or newer entrants to sustain operations.
