The US Securities and Exchange Commission (SEC) has suspended trading in QMMM Holdings Limited, a Hong Kong-based company incorporated in the Cayman Islands.
SEC Suspends Trading in QMMM After Stock Surges on Crypto Treasury Pivot
30 September 2025 - 11:31 CEST
According to a statement, the SEC cited concerns of potential stock manipulation. The suspension, announced Monday, took effect on 29 Sept and will remain in place until 10 Oct.
“The Commission temporarily suspended trading in the securities of QMMM because of potential manipulation … which appear to be designed to artificially inflate the price and volume of the securities of QMMM,” the SEC noted in its statement.
Concerning rally
QMMM, which through its subsidiaries provides digital advertising services, ignited investor interest earlier this month when it announced plans to allocate $100 million of its corporate treasury into cryptocurrencies, including Bitcoin, Ether, and Solana.
The news triggered a meteoric rally in the company’s stock, which rose over 1,700 percent on 9 Sept. The company’s stock price closed at approximately $119 by the time the SEC announced its suspension.
Growing trends
The surge placed QMMM among a growing number of firms that have turned to digital assets as a treasury strategy.
The SEC further determined that “unknown persons” used social media channels to make recommendations to investors in a bid to artificially boost QMMM’s share price.
The SEC’s announcement follows heightened scrutiny of corporate crypto treasuries. Last week, the Wall Street Journal reported that the SEC and the Financial Industry Regulatory Authority (FINRA) had contacted companies regarding unusual trading activity linked to digital asset purchases and related announcements.
