May 22, 2026 [cm/mschro/msch] We have a soft spot for companies led by people who don’t just talk about building, they bleed the vision from every pore and defend it daily against all comers. Think Alex Karp at Palantir, Jensen Huang at Nvidia, Arkady Volozh at Nebius Group, Cale Moodie at Neptune Digital Assets, or yes, even Elon Musk and Jeff Bezos in their prime.
These leaders treat every milestone as personal, fight through skepticism, regulatory mazes, and external attacks long after others would fold. That rare intensity creates a different kind of company … and a different kind of investor base.
Abaxx Technologies ( TSE:ABXX / OTC:ABXXF ) entered our radar somewhat by accident. We’ve historically focused on crypto and digital assets, so the concept of a new, physically deliverable commodity exchange in Singapore took time to fully click. But the more we’ve dug in, the more the parallel to our favored “builder” stories became clear.
Latest Momentum (as of May 22, 2026)
Abaxx just delivered strong Q1 2026 results and several major milestones:
- Trading volumes exploding: Q1 2026 saw 236,138 contracts (+145% QoQ). April alone hit 255,645 contracts, already exceeding the entire first quarter. New single-day record on May 14: >50,000 contracts exchange-wide, with Gold Singapore hitting 45,501 in one session.
- Key product growth: Gold Singapore futures +154% QoQ. LNG futures (Gulf of Mexico FOB and North Pacific Asia DAP) +84% QoQ. Lithium Carbonate Singapore futures saw active trading begin, with April volume +136% over Q1 total.
- New launch: On May 22, they rolled out Silver Singapore Futures (1,000 oz, .9999 fineness, physically deliverable into Singapore vaults), further expanding their precious metals suite.
- Recognition & listings: Named Newcomer of the Year at the 2026 Energy Risk Awards. Now trading on the Toronto Stock Exchange (TSX: ABXX) since May 21. CFTC Foreign Board of Trade (FBOT) registration (granted late 2025) opens direct U.S. access. ACER registration in Europe adds credibility.
- Financials: Q1 revenue ~$1.08M USD (beat estimates). Still in investment mode with negative EPS and cash burn, normal for a scaling exchange, but cash position remains solid from prior periods.
Objectively, these are impressive traction numbers for a young platform in a liquidity chicken-and-egg game. Revenue is still modest (full-year 2025 was roughly CAD 1M exchange revenue), but the acceleration in Asia-centric contracts (LNG, battery materials, carbon, now silver/gold) shows real commercial pull.
Geopolitical Tailwinds
The current environment plays directly into Abaxx’s strengths. Ongoing Strait of Hormuz tensions and supply disruptions have tightened LNG markets, heightened Asia-Europe competition for cargoes, and driven volatility in energy and critical minerals. Physically deliverable, Asia-focused benchmarks for LNG, carbon, lithium, nickel sulfate, and precious metals offer genuine hedging and price-discovery tools exactly when traditional systems feel slow or misaligned with energy-transition realities.
It’s not hype … it’s infrastructure that matters when geopolitics meets decarbonization.
The “Builder” Culture and Investor Tribe
What truly stands out is the same trait we admire elsewhere: Josh Crumb and the team (including heavyweights like Jeff Currie) visibly stand behind their creation. They openly discuss the fight against legacy giants (CME, ICE) that dominate through network effects, regulation, and inertia.
This isn’t ideology for its own sake, it’s a calculated bet on structural gaps in commodity markets, especially in the energy transition.
Such companies attract a passionate, long-term investor base that defends the thesis fiercely. They fact-check misinformation, dig into backgrounds, and push back against shorts, lazy “Börsenbriefe,” or analysts who compare Abaxx to unrelated plays. Focus evolves, companies aren’t static, and daily reality-testing is healthy. Yes, the line between conviction and emotional attachment can blur, that’s human when you truly believe in the mission.
We’re honest: We categorically reject short-selling as a practice. Our European roots come from markets where it simply wasn’t part of the culture, and we see no character trait in ourselves that would make us want to profit from talking struggling or emerging builders down.
Especially not when big incumbents already have every incentive (and tool) to protect their turf.
Context on the Fight and Possible Paths
This remains a classic David-vs-Goliath story: high-risk, high-reward.
Possible outcomes include continued independent growth if liquidity compounds, or a strategic buyout/acquisition by a larger player if Abaxx carves out meaningful benchmarks.
The team’s depth (ex-Goldman, NYMEX, CME, SGX, ICE experience) and execution so far make it more than just a hopeful underdog.
Important disclaimer: The author and all connected entities currently hold zero position in Abaxx Technologies. This article was produced independently and was neither commissioned, sponsored, nor influenced by the company or any affiliated parties or related entities. We have no investment of any kind at this time. However, the leadership alignment, fighter-CEO energy, top-tier team, and cultural fit alongside Palantir, Nebius, and similar names, puts it squarely on our watchlist for future consideration.
We will, like always, apply rigorous risk management and re-evaluate every assumption as new data arrives. In the end, markets reward builders who keep swinging long after others quit. Whether Abaxx becomes the next major chapter or not, the ethos is one we respect deeply. Wishing everyone a great weekend and relaxing holidays.
Keep building. (cm/mschro/msch)
NFA. DYOR. E&OE.
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