US financial regulator the Securities and Exchange Commission (SEC) has issued a notice that it is suspending trading in shares of The Crypto Company – Crypto Co (OTCMKTS:CRCW) – until early next year.
Crypto Company shares have surged more than 2,700% this month, to a market cap of more than $11 billion.
Crypto Company provides consulting services, serving blockchain entrepreneurs, businesses and governments who are committed to building the future of blockchain technologies. The company accelerates growth with funding, insights into innovation, strategic and regulatory advice, business development and curated introductions.
According to the SEC, the public interest and the protection of investors require a suspension of trading in the securities of The Crypto Company because of concerns regarding the accuracy and adequacy of information in the marketplace about, among other things, the compensation paid for promotion of the company, and statements in SEC filings about the plans of the company’s insiders to sell their shares of The Crypto Company’s common stock.
Questions have also arisen concerning potentially manipulative transactions in the company’s stock in November 2017.
The Crypto Company is a Nevada corporation with its principal place of business listed as Malibu, California, with stock quoted on OTC Link (previously “Pink Sheets”) operated by OTC Markets Group, Inc. under the ticker symbol CRCW.
The SEC suspension order is in effect from today through to and including January 3, 2018.
The SEC notice on the suspension of The Crypto Company can be seen here.