The Commission on securities and stock exchanges of the USA (SEC) has suspended trading in the shares registered on the stock exchange of cryptocurrency company.
In the notice
the Agency announced that it is freezing the stock trading The Crypto Company, which is based in Malibu, California, and offers consulting and investment services in the field of cryptocurrency.
The SEC stated that it was suspending the trading because of concerns regarding some of the information published by the company, and plans (identified in the public filings) regarding the sale of shares of «insiders». According to the document the SEC, the suspension of trading will last until January 3.
«The Commission temporarily suspended trading in the securities of The Crypto Company because of concerns regarding the accuracy and adequacy of information published by the company. In particular, we are talking about compensation paid for the promotion of the company, and statements about plans to sell the company’s shares by insiders. Also, questions arose regarding potentially manipulative transactions in respect of shares of the company in November 2017».
According to MarketWatch, shares little-known company has grown significantly over the last few weeks. Last month the price grew by more than 1 800%, and market capitalization has exceeded 11 billion dollars.
The Crypto Company is one of the listed cryptocurrency companies whose shares have increased significantly in regard to the sharp price increase of bitcoin and other cryptocurrencies, the total market capitalization which reached $ 600 billion. According to Bloomberg, The Crypto Company recently completed the sale of stock to accredited investors at a discounted price of only $ 7.