US SEC Suspends Trading of Crypto Treasury Company QMMM Stocks, Citing Social Media Manipulation of Its Price

ChainCatcher News, the U.S. Securities and Exchange Commission (SEC) has suspended trading of QMMM Holdings Ltd. shares. The stock price of this digital media advertising company surged nearly 1000% in less than three weeks, and the SEC stated that the stock may have been manipulated by social media promoters.

QMMM's share price has risen 959% since the company announced earlier this month that it would establish a "diversified cryptocurrency fund pool." The initial scale of this fund pool will reach 100 million USD, mainly investing in Bitcoin, Ethereum, and Solana.