Recently, the U.S. Securities and Exchange Commission (SEC) launched a formal investigation into the treasury-type company QMMM and suspended its trading on the U.S. stock market. This is the first time that regulatory authorities have taken action against a company with a model similar to MicroStrategy.

The SEC stated that the reason for the investigation is the suspicion of market manipulation. It is reported that some influential anonymous individuals posted content recommending the purchase of QMMM stocks on social media platforms, which may have had an improper impact on its stock price.

This move indicates that regulators are beginning to pay attention to companies that have only announced plans to purchase cryptocurrency but have not yet actually executed them. Such behavior may be seen as a form of hype strategy, and the SEC's action this time is undoubtedly a cooling off of the market.

This event has raised concerns in the market about other similar companies. Investors and market analysts are closely monitoring the developments to assess the potential impact this regulatory action may have on the entire industry.

As the cryptocurrency market continues to evolve, the game of cat and mouse between regulators and market participants seems to be entering a new phase. This incident may prompt other companies considering similar strategies to reassess their plans to avoid potential regulatory risks.