Gate News bot message, the SEC ( rejected the 1 billion dollar sign up application from DeFi Development Corp. The company originally planned to invest this funding in Solana.
The decision to reject the application stems from issues related to the compliance of its documents. In its S-3 registration, the company failed to provide the necessary internal control report. This report is a critical requirement for any company looking to apply for financing and conduct a securities offering. As a result, the SEC deemed the company's application ineligible and ultimately withdrew its $1 billion registration application.
DeFi Development Corp previously operated under the name Janover and submitted this issuance application in late April 2025. The company's goal is to raise over $1 billion for general corporate purposes, particularly for purchasing SOL tokens. According to the application documents, part of the funds is designated for investing in the then sixth largest cryptocurrency SOL.
Despite the "difficult start," the company stated that it would reapply in the future after addressing the SEC's concerns. The company emphasized that no securities were issued during this process.
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The SEC has rejected the $1 billion SOL investment sign up application from DeFi Development due to missing documents.
Gate News bot message, the SEC ( rejected the 1 billion dollar sign up application from DeFi Development Corp. The company originally planned to invest this funding in Solana.
The decision to reject the application stems from issues related to the compliance of its documents. In its S-3 registration, the company failed to provide the necessary internal control report. This report is a critical requirement for any company looking to apply for financing and conduct a securities offering. As a result, the SEC deemed the company's application ineligible and ultimately withdrew its $1 billion registration application.
DeFi Development Corp previously operated under the name Janover and submitted this issuance application in late April 2025. The company's goal is to raise over $1 billion for general corporate purposes, particularly for purchasing SOL tokens. According to the application documents, part of the funds is designated for investing in the then sixth largest cryptocurrency SOL.
Despite the "difficult start," the company stated that it would reapply in the future after addressing the SEC's concerns. The company emphasized that no securities were issued during this process.
Source: CoinGape