SEC Halts Trading In First Bitcoin Capital, After It Gained More Than 6,000% In 2017

By Ciara Linnane Markets MarketWatch Pulse

The Securities and Exchange Commission said Thurday it has temporarily suspended trading in the shares of First Bitcoin Capital Corp. because of concerns about the accuracy and adequacy of public information on the Canadian company. The concerns relate to the value of the company's assets and its capital structure, the SEC said in a statement. "The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company," said the statement. The suspension is scheduled to be terminated at 11.59 a.m. on September 7. First Bitcoin last traded at $1.79. The stock has run up 6,072% in 2017 and is up 43% in the past week. It is up a staggering 24,421% in the last 12 months. The S&P 500 has gained 9% in 2017.

Continue Reading Below

Copyright © 2017 MarketWatch, Inc.