The U.S. Securities and Exchange Commission has stepped in after QMMM Holdings Ltd saw its shares climb nearly 1,000% in less than a month.
The marketing and media company had revealed plans to create a $100 million crypto treasury with Bitcoin, Ethereum, and Solana, sparking a frenzy that lifted its stock from around $11 to over $200.
Regulators halted trading until October 10, citing concerns that anonymous online promotions may have fueled the surge. Officials said the move reflects growing vigilance against hype-driven rallies lacking clear fundamentals.
QMMM’s suspension comes amid wider scrutiny. The SEC and FINRA have contacted nearly 200 companies this year that announced sudden crypto strategies while experiencing sharp trading spikes. Nasdaq has also tightened its rules, requiring some firms to secure shareholder approval before issuing stock to fund digital-asset purchases.
Despite the clampdown, corporate adoption of crypto remains strong. Bloomberg estimates that more than 180 listed firms have set aside over $132 billion for digital assets in 2025, with public companies collectively holding more than 1 million Bitcoin.
High-profile examples such as BitMine Immersion, known for its massive Ethereum reserves, show how deeply crypto treasuries are embedding themselves in corporate finance.
The QMMM case underlines both sides of the trend: companies eager to pivot into digital assets to capture investor attention, and regulators determined to prevent speculation from spiraling out of control.
Source: Bloomberg
