Fourth crypto exchange shuts down in just six weeks
US-based crypto exchange ABFinance, founded by ByBit’s former CEO Helen Liu, closed its doors last week before it ever opened.
ABFinance announced last Friday that the exchange’s planned launch will no longer go forward and that it is “winding down in an orderly manner.”
ABFinance lasted six months
Liu founded the exchange in March before stepping down from her ByBit co-CEO role on April 30, 2026.
After ABFinance’s closure, Liu thanked her team and said: “It’s difficult to see this chapter come to an end.”
Over the last six weeks, BitMart, BitMEX, and AscendEX have also announced that they will be closing shop.
Read more: AscendEx shutdown: Uncertainty over withdrawals as hot wallets lack funds
Exchanges are leaving users worried for their funds
BitMart closed down despite its bullish outlook, and now, after it has continued to process withdrawals at an incredibly slow pace, users have begun to speculate that the exchange might be insolvent.
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