SEC Strikes at Crypto Treasury Firm, Halts QMMM Stock Trading after 1,000% Rally

Core Insights - The US SEC has charged Solana Treasury firm QMMM Holdings, which saw its stock price surge by 1000% in just 25 days [1] - The stock rally was allegedly driven by anonymous social media promotions following the company's announcement of a $100 million diversified crypto treasury [2] - Concerns over potential market manipulation and investor protection led to the suspension of QMMM stock trading [3] Company Developments - QMMM Holdings, based in Hong Kong, lists its US shares through a Cayman Islands holding entity [4] - The SEC's temporary suspension of trading will expire at 11:59 p.m. ET on Oct. 10 [4] Industry Trends - The crypto treasury sector is experiencing significant growth, with nearly 200 publicly traded companies now holding digital assets totaling over $112 billion [5] - Corporate Bitcoin holdings have surpassed 1 million BTC, while combined corporate holdings of Ethereum, Solana, and other tokens exceed $10 billion [5] - A notable shift towards broader crypto adoption among corporates is highlighted by a single company's Ethereum stake valued at over $11 billion [5]