SEC suspends trading in First Bitcoin Capital
24 August 2017 | 11069 views | 0
The Securities and Exchange Commission has suspended trading in the shares of First Bitcoin Capital Corp, in part because of concerns over the "accuracy and adequacy" of public information about the firm's assets and capital structure.
Trading in First Bitcoin Capital shares are suspended until 7 September, says the SEC in a statement, "because of concerns regarding the accuracy and adequacy of publicly available information about the company including, among other things, the value of BITCF’s assets and its capital structure".
On its website, Vancouver-based First Bitcoin Capital says that it is "currently working" on several cryptocurrency-related projects, including an exchange and an ATM network.
The company's shares, which trade over the counter, were trading at $1.79 before today's suspension and have seen their value balloon 43% in the last week and 6072% this year.