DeFi Development, previously Janover, has withdrawn its $1 billion shelf offering after the #SEC flagged missing paperwork, including a required internal controls report.
The company aimed to use the funds to buy a huge amount of Solana, hoping to become "Solana's MicroStrategy." Right now, they’ve already invested millions in $SOL , but can’t expand further until the SEC approves a revised application.
This move highlights how tough it is for crypto firms to raise big money for altcoin buys under current US regulations. DeFi Development is still committed to Solana and plans to refile once they fix the paperwork.
Do you think more companies will try to become corporate whales for coins like Solana? 🚀
