This website and any communications, including any linked information, is for general informational purposes only and is not intended to provide tax, legal, financial, investment, or accounting advice. Cryptocurrency’s legal status varies by jurisdiction and is not backed by any government. Abra products and customer accounts are not subject to FDIC or SIPC protections. Abra will have no liability whatsoever for any losses said to be related to any Abra communication. Unless otherwise stated, such content is the property of (and all copyright shall belong to) Abra.

Abra Capital Management LP is a registered investment adviser (RIA) with the U.S. Securities and Exchange Commission (SEC); firm brochure can be found here.

Client Relationship Summary can be found https://reports.adviserinfo.sec.gov/crs/crs_323353.pdf.

Abra has discontinued the Abra app in the U.S. and does not offer any money transmission products and services to U.S. customers.

Black Monday redux: Bitcoin, stocks and gold see heavy losses as VIX surges to 65

Aug 5, 2024

Kitco News reported on a major sell-off across global markets, with Bitcoin dropping below $50,000 and volatility reaching its highest levels since COVID-19. Bohan Jiang, Abra’s Head of OTC Options Trading, is quoted in the piece discussing the sell-off and its impact on cryptocurrencies, with major assets plunging 20-30%, driven by a combination of global tensions, recession fears and an excess of long-leveraged positions coming from a bull trending month. Despite the volatility, Bohan highlighted this downturn as a potential opportunity for long-term buyers.

Full article available here.