Abaxx Technologies Issues Strong Rebuttal to Recent Market Misinformation
Abaxx Technologies Inc. (TSX:ABXX) has launched a formal response to a series of critical reports issued by Viceroy Research, aiming to correct what it describes as “unfounded accusations” that have contributed to a significant decline in its share price. Shares of the financial software and market infrastructure company recently dropped to C$35.84, their lowest level since March, despite the company’s recent milestone of listing on the Toronto Stock Exchange and successfully closing a C$69 million financing round. Abaxx management emphasized that there have been no changes to its core business strategy and maintains that the company is fully on track to achieving the objectives outlined during its most recent earnings calls.
Central to the company’s defense is a direct address of claims regarding its market liquidity. Viceroy Research had suggested that Abaxx’s efforts to build volume through market maker and liquidity incentive programs were fraudulent. Abaxx categorically rejected these insinuations, labeling the practice of “wash trading” as illegal and unpermitted under the exchange’s strict rulebooks. The company noted that it utilizes a robust market surveillance program to monitor trading activity and that its incentive-based liquidity programs are standard practice across the exchange industry. Management reiterated that these tools are essential for attracting commercial hedgers who, over time, move the market toward consistent volume and open interest.
Abaxx also moved to suppress rumors regarding its financial health and partner relations. Addressing claims that the company faces a quarterly “cash burn rate” of C$25 million, Abaxx described the figure as materially inaccurate, stating that the report overstates its actual net cash expenditure by more than 50%. The company further clarified the exit of Cboe as a strategic partner, explaining that the move followed a shift in Cboe’s corporate strategy under new leadership. Abaxx confirmed that it successfully bought back Cboe’s position in Abaxx Singapore during a recent consolidation, an event that was disclosed in regulatory filings and ultimately resulted in Abaxx owning 95.41% of the subsidiary.
Regarding allegations that Ivanhoe Capital and Kilo Capital served as undisclosed market makers, Abaxx clarified that both firms were only part of its “Digital Title Pilot Program,” which operates entirely outside the Abaxx Exchange and Clearinghouse environment. The company disputed the assertion that its platform is an “off-the-shelf” product, stressing that its architecture involves a complex network of institutions, including independent software vendors, data providers, and clearing members. Abaxx has formally reached out to regulatory authorities in Canada and Singapore to address these concerns, offering full cooperation and access to all internal records to prove the integrity of its infrastructure.
To ensure transparency and restore investor confidence, Abaxx will host an emergency investor update call on Thursday, June 18, 2026, at 4:30 p.m. ET. The session is designed to provide a forum for management to answer questions directly and debunk the specific claims leveled against the company in the recent reports. Stakeholders are encouraged to submit inquiries in advance via email. A full recording of the meeting and accompanying transcript will be made available shortly after the event on the company’s investor relations website.
Looking ahead, Abaxx Technologies remains focused on its mission to build “Smarter Markets” through enhanced financial technology. Despite near-term volatility in its share price, the company asserts that it remains in a secure financial position following its recent fundraising and continues to expand its critical infrastructure for the low-carbon economy, including LNG, carbon, and battery material futures. By maintaining strict adherence to regulatory standards and focusing on its long-term development of global benchmarks, Abaxx believes it can move past the recent misinformation campaign and continue its trajectory toward institutional-grade market delivery.
