SEC trading halt of crypto treasury firm QMMM is a TradFi issue

Shares in QMMM Holdings will be off the market until Monday, Oct. 13, as the SEC suspended trading to probe possible stock manipulation.

The US Securities and Exchange Commission has temporarily halted trading of crypto treasury company QMMM Holdings due to potential stock manipulation, coming just a week after reports surfaced of a regulatory probe into certain crypto treasury firms. 

“The Commission temporarily suspended trading in the securities of QMMM because of potential manipulation,” the agency said in a notice on Monday, halting trading of QMMM stock for 10 trading days.

It said the alleged manipulation was “effectuated through recommendations, made to investors by unknown persons via social media to purchase” QMMM shares, “which appear to be designed to artificially inflate the price and volume.”

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