QMMM stock halted by SEC after crypto treasury plan surge
The post QMMM stock halted by SEC after crypto treasury plan surge appeared on BitcoinEthereumNews.com.
The U.S. Securities and Exchange Commission has suspended trading in QMMM Holdings after its stock jumped nearly tenfold on plans to build a $100 million cryptocurrency treasury. Summary SEC suspends QMMM after sharp rally. Stock jumped 959% on $100M crypto treasury news. Concerns raised over social media-driven manipulation. QMMM Holdings Ltd. stock soared almost tenfold in less than three weeks on news of a planned cryptocurrency treasury. According to a Sept. 30 report from Bloomberg, the suspension took effect after the Hong Kong-based advertising firm’s stock jumped 959% following its Sept. 9 announcement that it would build a $100 million diversified cryptocurrency treasury. QMMM stock sudden rally triggers scrutiny The company said the strategy would initially focus on Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) while exploring blockchain and artificial intelligence integrations. The disclosure sparked heavy retail buying, with QMMM’s shares peaking above $260 intraday before pulling back to $119 at the time of the halt. Even at that level, the stock remained up more than 2,100% for the year. The SEC said it was concerned about “potential manipulation,” pointing to online posts by unidentified promoters urging investors to buy the stock. The suspension runs until 11:59 p.m. ET on Oct. 10. Nasdaq, where the company trades, declined to comment, while QMMM has yet to respond. Crypto treasury trend under watch QMMM is the latest firm to join a growing list of companies pursuing crypto treasury strategies, a trend popularized by MicroStrategy’s high-profile Bitcoin purchases. Supporters argue that digital assets can serve as reserves or yield-bearing holdings, but critics warn the moves can fuel speculation and expose firms to extreme volatility. The SEC also halted trading in Smart Digital Group Ltd. for similar reasons after it announced plans to create its own cryptocurrency asset pool. Meanwhile, regulators have stepped up…
