Abaxx Technologies Launches Aggressive Defense Against “Short-and-Distort” Campaign
Abaxx Technologies Inc. has issued a robust rebuttal to a series of allegations brought forth by Viceroy Research Group, characterizing the firm’s recent reports as a “short-and-distort” campaign. According to Abaxx, these reports contain false and meritless claims specifically designed to manipulate the company’s share price for the profit of short sellers at the expense of long-term investors. In response to these claims, Abaxx has categorically denied that it or any of its subsidiaries are currently under investigation by any regulatory body, asserting that the allegations are fabricated to undermine market confidence.
To combat the alleged manipulation, Abaxx has taken definitive legal and regulatory action. The company has formally contacted the Canadian Investment Regulatory Organization (CIRO) to report the defamatory nature of Viceroy’s allegations and to request a formal investigation into potentially deceptive trading activity involving the company’s shares. Furthermore, the company has proactively engaged with the Monetary Authority of Singapore (MAS) to address concerns regarding the integrity of the Abaxx Exchange, demonstrating a commitment to transparency and regulatory compliance. Additionally, Abaxx has retained the premier U.S. law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP to conduct an independent investigation into Viceroy’s activities and potential wrongdoing.
Addressing the financial health of the organization, Abaxx provided a clear snapshot of its balance sheet to reassure stakeholders. As of June 2026, the company holds over C$97 million in cash and cash equivalents. With a net cash burn rate averaging C$12.3 million over the past two quarters, management stated that the company is well-capitalized to fund its current operational plans for approximately the next seven quarters without requiring additional external financing. This financial stability is intended to emphasize that the firm is well-positioned to navigate market volatility and continue its long-term development of market infrastructure.
The company also addressed technical and operational concerns, specifically regarding “wash trading,” which it firmly states is strictly prohibited under Rule 508 of the Abaxx Exchange rulebook. Abaxx highlighted that its market surveillance systems are designed to actively monitor and prevent manipulative trading practices. Furthermore, the company clarified that its market-making and liquidity provider programs do not involve undisclosed related parties. Abaxx underscored the growth of its broader ecosystem, reporting that it currently hosts 11 Independent Software Vendors (ISVs), 7 clearing firms, and 22 brokers, with an extensive pipeline of additional institutional participants currently in the process of onboarding.
Operational metrics for the Abaxx Exchange show positive momentum, suggesting that the platform’s growth is following a natural trajectory for new commodity markets. The company reported a significant increase in trading activity throughout June 2026, with average daily volume rising by 12% compared to May, and average daily open interest jumping by 232%. Abaxx management explained that as these markets move toward maturity, they are seeing more robust participation, moving past the initial phase where liquidity was primarily driven by incentive programs.
Looking forward, Abaxx reaffirmed its commitment to building “Smarter Markets” and its mission to deliver critical infrastructure for the energy transformation and an AI-augmented economy. By maintaining transparency with shareholders and aggressively defending against bad-faith market activities, the company aims to sustain its growth initiatives. Abaxx encourages investors to view the recent turbulence as a byproduct of the competitive, high-stakes environment in which it operates, while management remains focused on the seamless integration of its spot and futures markets to serve global commodity participants.
