- ABFinance, the U.S. finance startup founded by former Bybit co-CEO Helen Liu, announced on August 14 that it is canceling its planned launch.
- The company was unveiled about four months ago.
- 2026 has already seen 17 major crypto ventures and roughly 95 projects in total shut down.
ABFinance, the U.S. finance startup founded by former Bybit co-CEO Helen Liu, has announced that it will begin winding down.
17 major crypto businesses and about 95 total projects have already closed so far in 2026.
Why is ABFinance closing down?
Helen Liu unveiled ABFinance in mid-March, days after Bybit confirmed her exit. Liu was building the platform in the United States with full U.S. licensing in place from day one. The idea behind the product was to create a single platform that would handle deposits, trading, earning, and payments while linking fiat currency to crypto.
ABFinance announced on August 14, about four months after its initial unveiling, that it will not move forward with its launch and said it is “winding down in an orderly manner” on its X (formerly Twitter) account.
The company thanked its community, partners, and people who “built” alongside it.
No specific reason was given for the shutdown, and the company also did not say what would happen to its education program.
The program, ABF Learn, was ABFinance’s only export, designed for students and people early in their careers to help them understand how banking, AI, and digital assets work together.
How bad has 2026 been for crypto companies?
ABFinance is just one of many crypto companies that closed in 2026. By late July, Cryptopolitan counted 17 major crypto ventures that had closed. In total, about 95 projects shut down during the year. Industry experts blame the shutdowns on a long bear market and on the fact that businesses are merging into fewer big platforms.
Other companies that shut down this year include Bitmart, which said in July that it would close its worldwide operations. The exchange had been running for nine years.
BitMEX ended its 11-year run around the same time while Bitwise cut about 14% of its staff in August. The company’s main index fund lost a lot of value. Its net assets fell 48.27% to $532.8 million in the first half of the year.
In May, Syndicate Labs, Everclear and ZERO Network closed within hours of each other.
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FAQs
Who founded ABFinance?
Helen Liu, who stepped down as Bybit's co-CEO on April 30, 2026, after five years at the exchange, founded ABFinance to build a US-licensed platform combining deposits, trading, earning, and payments while bridging fiat and crypto.
What did ABFinance say when it canceled its launch?
In an August 14 post on X, the company said its "planned launch will not move forward" and that it is "winding down in an orderly manner," thanking its community, partners, and the people who built the project.
How many crypto projects have shut down in 2026?
By late July, Cryptopolitan reported that 17 major crypto ventures had closed and about 95 projects in total had shut down during 2026, a wave attributed to the bear market and consolidation into a few leading platforms.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Hannah Collymore
Hannah is a writer and editor with nearly a decade of blog writing and event reporting experience in the crypto space. At Cryptopolitan, Hannah contributes to the news page, reporting and analyzing the latest developments in DeFi, RWA, crypto regulation, AI and frontier tech industries. She graduated from Arcadia university with a degree in Business Administration.
