Abaxx Technologies Launches Defense Against “Short-and-Distort” Campaign
Abaxx Technologies Inc. has launched a vigorous defense against what it characterizes as a malicious “short-and-distort” campaign orchestrated by Viceroy Research Group. In a June 21, 2026, statement, the financial software and market infrastructure company explicitly refuted a series of reports published by Viceroy, labeling the allegations as false, meritless, and designed solely to manipulate the company’s share price for profit. Abaxx maintains that these reports aim to undermine market confidence in its ecosystem, including the Abaxx Commodity Exchange and Clearinghouse.
In response to the alleged defamation, Abaxx has taken significant proactive steps to engage regulatory bodies. The company has formally contacted the Canadian Investment Regulatory Organization (CIRO) to report what it describes as manipulative and deceptive trading activity by Viceroy and associated parties. Furthermore, the company has reached out to the Monetary Authority of Singapore (MAS) to address claims regarding the integrity of trading on the Abaxx Exchange. To bolster its legal defense, Abaxx has retained the elite U.S.-based law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP to conduct a formal investigation into potential wrongdoing by Viceroy and its affiliates.
A central pillar of Abaxx’s rebuttal is the clarification of its regulatory standing and internal stability. The company stated unequivocally that neither it nor its subsidiaries are currently under investigation by any government or financial regulator. Furthermore, the firm disclosed a robust financial position, reporting over C$97 million in cash and cash equivalents. With a net cash burn rate averaging approximately C$12.3 million per quarter, management believes the company is well-capitalized to sustain its current operational roadmap for roughly the next seven quarters without requiring additional funding.
Addressing specific market integrity concerns, Abaxx dismissed allegations of “wash trading,” asserting that such practices are strictly prohibited by the Exchange’s rulebook. The company highlighted that it utilizes a sophisticated market surveillance program designed to monitor trading activity for manipulation. Any potential rule violations are subject to strict disciplinary procedures, including potential suspension or termination of participants. Abaxx also clarified that its liquidity provider programs are transparent, explicitly noting that none of the participants involved in these programs are undisclosed related parties.
The company also cited strong growth metrics as evidence of its operational progress. Abaxx reported that its ecosystem of clearing firms, independent software vendors (ISVs), and brokers is expanding steadily, with dozens of entities currently in the onboarding pipeline. Data provided by the company shows an upward trend in market activity; as of June 19, 2026, both the average daily volume and open interest on the Abaxx Exchange have seen significant growth compared to the previous month. This evolution, according to the firm, is a standard part of transitioning new markets toward maturity.
Ultimately, Abaxx Technologies remains committed to its mission of building “Smarter Markets” to support the global energy transition and the rise of an AI-augmented economy. By aggressively pursuing legal and regulatory channels, the firm aims to silence the rumors and restore shareholder confidence. The company continues to maintain a transparent line of communication with its investors, emphasizing that the focus remains on the long-term infrastructure and technological initiatives that serve as the backbone of its business model.