Abaxx Technologies Launches Aggressive Defense Against “Short-and-Distort” Campaign
Abaxx Technologies Inc., the Toronto-based financial software and market infrastructure firm, has officially mounted a robust defense against what it characterizes as a malicious “short-and-distort” campaign orchestrated by the Viceroy Research Group. In a June 21, 2026, statement, Abaxx categorically dismissed Viceroy’s recent reports as a collection of meritless, defamatory, and false allegations designed solely to trigger a decline in the company’s share price for the profit of short sellers. Abaxx leadership asserts that the tactics employed by Viceroy are aimed at undermining investor confidence and destabilizing the company’s standing in the financial markets at the expense of long-term shareholders.
In a proactive effort to combat these accusations, Abaxx has initiated formal regulatory and legal proceedings. The company has contacted the Canadian Investment Regulatory Organization (CIRO) to urge a thorough investigation into potential market manipulation and deceptive trading patterns allegedly linked to Viceroy and its affiliates. Simultaneously, Abaxx Singapore, which manages the Abaxx Commodity Exchange and Clearinghouse, has engaged with the Monetary Authority of Singapore (MAS) to address concerns regarding the integrity of its trading platforms. Furthermore, Abaxx has retained the premier U.S. law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP to investigate wrongdoing related to the campaign, underscoring the company’s commitment to pursuing legal accountability.
To restore transparency and provide investors with an accurate picture of its operational health, Abaxx explicitly clarified that neither the parent company nor any of its subsidiaries are currently under investigation by any regulatory body. The company emphasized its strong financial position, reporting over C$97 million in cash and cash equivalents as of the second quarter of 2026. With an average net cash burn rate of C$12.3 million over the previous two quarters, Abaxx projects that it possesses sufficient liquidity to maintain its current operational trajectory for approximately seven quarters, completely independent of any need for external capital raises.
Addressing specific claims regarding potential market misconduct, Abaxx reinforced its zero-tolerance policy toward illegal activities, including wash trading. The company stated that its exchange rulebook explicitly prohibits such practices and is supported by a sophisticated, proactive market surveillance program designed to detect and deter manipulation. Abaxx clarified that none of the participants in its liquidity provider or market-making programs are undisclosed related parties. These operations are managed with strict regulatory oversight, and the company maintains that any evidence of non-compliance would result in immediate disciplinary action, including potential suspension or termination of offending participants.
Despite the pressure from negative campaigns, Abaxx reports significant growth in its exchange ecosystem. The company is currently building critical market infrastructure to support the global shift toward a low-carbon economy, attracting a growing roster of sophisticated industry participants. As of mid-June 2026, 11 Independent Software Vendors (ISVs) are connected to the exchange with five more in the pipeline, alongside seven connected clearing firms and 22 active brokers. This growing network reflects the substantial time and capital investment currently being committed by institutional partners to Abaxx’s next-generation trading environment.
Finally, Abaxx highlighted strong performance metrics to illustrate the natural maturation of its exchange. While new markets often experience low initial open interest, recent data suggests a clear upward trajectory in activity. Average daily volume for June 2026 reached 16,846 contracts, and open interest climbed to 1,343, representing month-over-month growth of 12% and 232%, respectively. By delivering Smarter Markets—built on better benchmarks and secure, physically-deliverable commodity futures—Abaxx maintains that it is creating long-term value. The company continues to prioritize transparency for its stakeholders while aggressively defending its reputation against those it deems to be engaging in predatory market activities.
