The U.S. SEC suspends trading of cryptocurrency treasury company QMMM's stock, citing that its stock price is manipulated by social media

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

QMMM's stock price has risen 959% since the company announced earlier this month that it would establish a "diversified cryptocurrency fund," which will initially reach a size of $100 million, primarily investing in Bitcoin, Ethereum, and Solana.