The AB Foundation, an Irish-registered non-profit organization led by former Irish Prime Minister Bertie Ahern, is being dissolved after reportedly failing to carry out any operational activities beyond its initial launch event.
According to documents filed with Ireland's Companies Registration Office (CRO), the AB Foundation has applied for voluntary strike-off from the register, aiming to liquidate the organization. Although official documents reportedly indicate that the non-profit never conducted any commercial activities, the foundation claimed in late 2025 that it had donated over $1.9 million to support victims of a fifth-alarm fire at the Kwong Fuk Estate residential complex in Hong Kong's Tai Po district.
Founded in early 2025 by the cryptocurrency company AB, the AB Foundation was positioned as an initiative aimed at using blockchain technology and artificial intelligence to transparently fund global charitable projects. To bolster institutional credibility, the foundation established an extensive advisory network that included nearly 30 former heads of state and international leaders.
In addition to Ahern, notable figures associated with the foundation include Timor-Leste's President José Ramos-Horta, former Nigerian President Olusegun Obasanjo, and former Ukrainian President Viktor Yushchenko. Despite an ambitious start and attracting board members from around the world, the charity reportedly never held a single formal meeting after its establishment.
The non-profit found itself embroiled in controversy after investigations revealed connections between AB and a Cambodian conglomerate under US sanctions for its alleged involvement in cryptocurrency fraud, fraudulent operations, and human trafficking networks. The foundation became the focus of new disputes when its name became associated with a proposed cryptocurrency resort and development project in Timor-Leste, involving a Chinese-born businessman linked to the foundation's ecosystem.
Earlier this year, Ahern denied these claims, stating he had "no connection whatsoever" to the Timor-Leste project or related donations, and emphasizing he knew nothing about the project beyond his ceremonial role in the charity. The former prime minister also asserted that there were no connections between the Irish-registered non-profit and the sanctioned overseas groups.
With the voluntary strike-off process now underway, the Irish non-profit will be officially dissolved, effectively ending the short-lived experiment in cryptocurrency philanthropy.
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