US regulator halts trading in firm that soared 959% on crypto plan
NEW YORK – The US Securities and Exchange Commission (SEC) suspended trading in QMMM Holdings after its shares surged almost 1,000 per cent in less than three weeks, saying the digital media advertising firm’s stock may have been manipulated by touts on social media.
QMMM’s stock has surged 959 per cent since before the company said earlier in September that it was establishing a “diversified cryptocurrency treasury” that would initially reach US$100 million (S$129 million) and target Bitcoin, Ethereum and Solana.
In its Sept 9 release, QMMM also said it was announcing its “strategic entry into the cryptocurrency sector,” citing the use of artificial intelligence and blockchain technology.
Recommendations on social media by…
