US SEC Blocks $1B DeFi Development Filing Tied to Solana Purchase Plan

The U.S. Securities and Exchange Commission (SEC) has blocked DeFi Development Corp’s $1 billion registration filing. The company had intended to use the funds to invest in the Solana blockchain. However, the SEC found that the filing was ineligible due to missing a required internal controls report in the Form 10-K. As a result, the company has withdrawn the filing and plans to refile in the future.