COINOTAG News on September 30, citing Bloomberg, reported that the U.S. Securities and Exchange Commission (SEC) has suspended trading in QMMM Holdings (QMMM) after the stock rallied nearly 1,000% in under three weeks, prompting regulatory scrutiny into abrupt price movements.
The SEC indicated the surge may have been influenced by posts from “unidentified individuals” on social media that recommended buying QMMM, and noted the company’s announcement to create a $1 billion-scale diversified cryptocurrency treasury targeting allocations to Bitcoin, Ethereum and Solana as a material disclosure linked to the trading activity.
The trading suspension is a temporary market intervention through October 10 at 11:59 p.m. ET; the regulator simultaneously halted trading in Smart Digital Group Ltd. for similar concerns while market surveillance continues.