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Caixin: The QMMM stock of the Hong Kong encryption treasury company has been suspended to date, and the office is empty.
According to a report by Caixin on October 17, Deep Tide TechFlow announced that QMMM Holdings (NASDAQ: QMMM), a U.S. publicly listed company, plans to invest $100 million to establish a Crypto Assets reserve by September 9, 2025, with its stock price rising 9.6 times within three weeks. The U.S. SEC deemed the company suspected of manipulating stock prices using social media platforms at the end of September, ordering it to halt trading since September 29. The company has been suspended from trading since then.
On October 16, Caixin visited its Hong Kong headquarters and found the office empty. When inquiring with an employee from a nearby company, they stated that the company had moved out in September and was unaware of its new location.
According to reports, QMMM will be listed on NASDAQ in July 2024, registered in the Cayman Islands, and is a holding company. There are two companies under QMMM that actually operate, namely Manymany Creations and Quantum Matrix, which focus on media and animation production, both registered near the Tin Hau MTR station in Hong Kong at the Seaview Building, with the registered business type being “Advertising and Market Research.”