🚫💰 #SEC "brake system" ambition to raise 1 billion USD Solana from DeFi Development!
The U.S. Securities and Exchange Commission (SEC) has officially rejected the proposal of #DeFiDevelopment to issue 1 billion USD in securities to raise an additional $SOL 🚀.
👉 It is known that the initial application was submitted by DeFi Development since April 2024.
👉 After nearly 2 months of review, on June 10, 2025, the SEC decided to deny the application due to the lack of internal control reports — a necessary condition for issuance under Form S-3.
📉 Nevertheless, from April until now, DeFi Development has still self-funded millions of USD in SOL, having raised about 42 million USD for the deal.
🎯 The plan to become "Strategy version Solana" (collecting altcoins as reserve assets) is temporarily interrupted.
📊 Meanwhile, $BTC continues to soar, while Solana slightly adjusts, awaiting future ETF expectations.
🔥 The massive SOL acquisition deal still has the potential to return if the SEC "gives the green light" in the next application submission.
