SEC Suspends QMMM Trading After 959% Crypto Pivot Rally

- SEC temporarily halts trading of QMMM Holdings Ltd. - Crypto treasury announcement and social media hype fuel 959% rally. On September 29, 2025, the U.S. Securities and Exchange Commission (SEC) suspended trading for QMMM Holdings Ltd. This action followed an extraordinary 959% increase in the company's stock price in less than three weeks. The SEC cited concerns about potential price manipulation on social media, where "unknown persons" apparently encouraged stock purchases without proper disclosure. The suspension will remain in effect until 11:59 p.m. ET on October 10, 2025. On September 9, 2025, the Hong Kong-based advertising technology firm revealed plans to create a $100 million cryptocurrency treasury. The company stated it would allocate funds to acquire major digital assets, including Bitcoin, Ethereum, and Solana. In the September 9 announcement, QMMM's CEO, Bun Kwai, stated, "This move is a long-term strategy to align with the global adoption of blockchain technology." The announcement consequently generated substantial attention on social media, triggering speculative buying that lifted QMMM shares out of penny-stock status and into the spotlight. However, the SEC's decision reflects broader regulatory concerns about the intersection of traditional stock markets and the cryptocurrency sector. Social media hype increasingly drives price volatility, a trend that leads regulators to intensify their scrutiny of companies that make sudden pivots into digital assets or Web3 technologies. QMMM's plan to diversify its holdings and invest in blockchain-related infrastructure represents a growing trend among publicly listed companies, as over 85 firms globally pursued similar strategies in 2025. Yet, the rapid rise in stock values following such announcements attracts regulatory attention, especially when coupled with speculative activity. As of 21:08 UTC on September 29, market data showed robust activity across the cryptocurrency sector. Bitcoin (BTC) was trading at $114,375.90, as its 24-hour trading volume increased by 3.16%. Ethereum (ETH) had risen to $4,232.74, with its volume increasing by 4.30% in the same period. Meanwhile, Solana (SOL) was priced at $214.62, showing a 3.63% increase in 24-hour trading volume. This data highlights continued activity within digital asset markets amid heightened regulatory surveillance.