ABFinance cancels launch and begins winding down operations

ABFinance, a U.S.-based finance startup founded by former Bybit co-CEO Helen Liu, has announced it will cancel its planned launch and begin winding down operations in an orderly manner. The company, which aimed to provide a regulated platform linking fiat currency to crypto through deposits, trading, and payments, never officially opened to customers, meaning no user funds were at risk.

The shutdown occurs amid a broader trend of closures within the cryptocurrency sector in 2026. Industry analysts point to a prolonged bear market and market consolidation as contributing factors. Other notable exits during this period include BitMart, BitMEX, and AscendEX, as well as staff reductions at Bitwise. ABFinance's decision follows its initial unveiling in March 2026, marking the end of its attempt to build a fully licensed fiat-to-crypto stack within the United States regulatory framework.