{"id":4830,"date":"2018-01-08T19:11:32","date_gmt":"2018-01-09T01:11:32","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4783"},"modified":"2022-03-22T15:07:58","modified_gmt":"2022-03-22T20:07:58","slug":"sec-suspends-trading-ubi-blockchain-900-stock-jump-cryptocurrency-craze","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-suspends-trading-ubi-blockchain-900-stock-jump-cryptocurrency-craze\/","title":{"rendered":"SEC Suspends Trading in UBI Blockchain After 900% Stock Jump from Cryptocurrency Craze"},"content":{"rendered":"

\t\t\t\tThe US Securities and Exchange Commission has ordered the suspension trading in UBI Blockchain Internet Ltd.(UBIA) stock. The company\u2019s stock rose over 900% last year in the wake of the popularity of digital currencies.<\/p>\n

Now, the SEC has temporarily halted the sale and purchase of UBI BLockChain stock because of market activity that it describes as \u201cunusual and unexplained\u201d since at least November of last year involving the company\u2019s Class A common stock. <\/p>\n

It also has questions regarding the accuracy of claims that the company made in financial statements. Addressing the SEC\u2019s move, UBI Blockchain CEO Tony Liu contended that his company, which touts blockchain technology, is not the same as bitcoin companies.<\/p>\n

UBI Blockchain, which is based in Hong Kong, claims that it wants to utilize the decentralized-ledge technology of blockchain so that consumers can track the \u201coriginal source\u201d of a drug or food product. Two weeks ago, in a 3-to-1 trading split, the company’s market value hit over $1B. It\u2019s current market value is more than $800M.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The US Securities and Exchange Commission has ordered the suspension trading in UBI Blockchain Internet Ltd.(UBIA) stock. The company\u2019s stock rose over 900% last year in the wake of the popularity of digital currencies. Now, the SEC has temporarily halted the sale and purchase of UBI BLockChain stock because of market activity that it describes […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3801,3760,3741],"tags":[2942],"class_list":["post-4830","post","type-post","status-publish","format-standard","hentry","category-sec","category-sec-enforcement","category-securities-fraud","tag-ubi-blockchain-internet-ltd"],"yoast_head":"\nSEC Suspends Trading in UBI Blockchain After 900% Stock Jump from Cryptocurrency Craze — Investor Lawyers Blog — January 8, 2018<\/title>\n<meta name=\"description\" content=\"The US Securities and Exchange Commission has ordered the suspension trading in UBI Blockchain Internet Ltd.(UBIA) stock. 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The company\u2019s stock rose over — January 8, 2018","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/sec-suspends-trading-ubi-blockchain-900-stock-jump-cryptocurrency-craze\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/sec-suspends-trading-ubi-blockchain-900-stock-jump-cryptocurrency-craze\/"},"author":{"name":"Shepherd Smith Edwards & Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"SEC Suspends Trading in UBI Blockchain After 900% Stock Jump from Cryptocurrency Craze","datePublished":"2018-01-09T01:11:32+00:00","dateModified":"2022-03-22T20:07:58+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/sec-suspends-trading-ubi-blockchain-900-stock-jump-cryptocurrency-craze\/"},"wordCount":477,"keywords":["UBI Blockchain Internet Ltd."],"articleSection":["SEC","SEC Enforcement","Securities Fraud"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/sec-suspends-trading-ubi-blockchain-900-stock-jump-cryptocurrency-craze\/","url":"https:\/\/www.investorlawyers.com\/blog\/sec-suspends-trading-ubi-blockchain-900-stock-jump-cryptocurrency-craze\/","name":"SEC Suspends Trading in UBI Blockchain After 900% Stock Jump from Cryptocurrency Craze — Investor Lawyers Blog — January 8, 2018","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2018-01-09T01:11:32+00:00","dateModified":"2022-03-22T20:07:58+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"The US Securities and Exchange Commission has ordered the suspension trading in UBI Blockchain Internet Ltd.(UBIA) stock. 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