DeFi Development Corp’s $1 Billion Solana (SOL) Investment Plan Rejected by SEC, Why?
Jakarta, Pintu News – DeFi Development Corp’s $1 billion registration application aimed at investing in the Solana (SOL) blockchain has been rejected by the United States Securities and Exchange Commission (SEC).
This rejection was due to the company’s failure to include the required internal control report in its Form 10-K. As a result, DeFi Development Corp was forced to withdraw its filing and plans to re-file in the future.
Check out the full information here!
Causes of Rejection by the SEC
The United States Securities and Exchange Commission (SEC) found that DeFi Development Corp’s Form S-3 filing was missing a mandatory internal control report. This report is crucial for any company seeking to raise funds through a securities offering.
Without the report, the SEC deemed the filing ineligible, resulting in the withdrawal of the $1 billion registration filing. The company, formerly known as Janover, had made its offer at the end of April 2025.
The purpose of the fundraising was for general corporate purposes, specifically the purchase of Solana (SOL) tokens. According to the filing, part of the funds would be used for investments in Solana (SOL), which at the time was the sixth largest cryptocurrency by market capitalization.
Read also: Gold Jewelry Price Today June 13, 2025, Up or Down? Check the list!
DeFi Development’s Investment Focus
The main purpose of this $1 billion filing is to acquire Solana (SOL) tokens. Solana (SOL) was chosen due to its strategic position in the cryptocurrency market. In the filing, it was mentioned that this investment will allow the company to buy more Solana (SOL) tokens like the Bitcoin Strategy plan and benefit from staking rewards.
Staking rewards in Solana (SOL) can provide a return on investment, but only if the value of Solana (SOL) appreciates after the token purchase. The company explained in its filing that the funds raised will be used to acquire Solana (SOL) in the hope of generating returns from staking activities. However, at the moment, the future of this investment plan remains uncertain due to the actions of the SEC.
Read also: 24 Karat Gold Price Today June 13, 2025, Check the Chart Below!
Future Plans and Market Reaction
Following the SEC’s decision, DeFi Development Corp has stated clearly that it will reapply for registration in the future. The company is still expected to continue with its fundraising plans to acquire Solana (SOL) tokens, and the market is waiting to see if the filing will meet regulatory approval when it is resubmitted.
This withdrawal notice has raised questions about how regulatory agencies like the SEC will approach similar investment plans going forward, especially in cases involving cryptocurrency-related projects. The next steps of DeFi Development Corp will depend on the resolution of the issues raised by the SEC.
Conclusion
Although this short-term failure will likely delay the company’s intentions, the investment in Solana (SOL) is still likely to be a central element of their future investment strategy. The upcoming decision from the SEC and remedial measures by DeFi Development Corp will largely determine the future direction of this investment.
That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.
Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now. Also, experience web trading with advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro. Pintu Pro Futures is also available, where you can buy bitcoin leverage, trade btc futures, eth futures and sol futures easily from your desktop!
*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference
- Coingape. US SEC Blocks $1B DeFi Development Filing Tied to Solana Purchase Plan. Accessed on June 13, 2025
- Featured Image: Reddit