Deals
SEC Halts Crypto Stock Over Manipulation Concerns After Massive Jump
- Trading halt tied to concerns shares being manipulated: SEC
- Agency adds that investors may not be getting accurate data
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U.S. regulators temporarily suspended trading in an obscure digital currency company due to concerns that its stock is being manipulated after the shares surged more than 17,000 percent in less than three months, making paper billionaires out of top executives.
In a Tuesday order halting buying and selling of The Crypto Co., the Securities and Exchange Commission said it was worried investors aren’t getting accurate disclosures or enough information about the company. Questions have also arisen about “potentially manipulative transactions” involving the Malibu, California-based company’s shares, the SEC said.