SEC Blocks $1B Solana Investment Plan Over Missing Paperwork

The post SEC Blocks $1B Solana Investment Plan Over Missing Paperwork appeared first on Coinpedia Fintech News

The U.S. Securities and Exchange Commission (SEC) has halted DeFi Development Corp’s $1 billion registration filing, which aimed to fund a large-scale investment in Solana. Solana was selected due to its position as the sixth-largest cryptocurrency by market cap and its growing relevance in the DeFi ecosystem. The move comes after the SEC flagged the filing for missing a key requirement, an internal controls report in the company’s Form 10-K.

Filing Withdrawn, But Plans Remain Intact

Originally filed in April 2025, the registration would have allowed DeFi Development Corp, formerly known as Janover, to raise funds to purchase Solana tokens and benefit from potential staking rewards. However, the absence of the required financial controls report led to the filing being deemed ineligible, forcing the company to withdraw its application.

Despite the setback, DeFi Development says it intends to refile after resolving the compliance issue. The company also clarified that no securities were issued during this process. This triggered the immediate withdrawal of the proposal. 

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Focus on Solana Investment

Solana remains at the heart of DeFi Development’s strategy, with the company highlighting its potential in the market and staking yield opportunities. The $1 billion raise was meant to mirror a strategy similar to a Bitcoin-style investment plan, focusing on long-term gains through token acquisition and staking rewards.

Regulatory Outlook and Market Impact

The SEC’s move has temporarily put DeFi Development’s $1B crypto plan on hold, but it’s also making people wonder how strict U.S. regulators will be with similar crypto plans in the future. The company says it will fix the paperwork issue and try again soon. Even though this is a delay, they’re still focused on buying Solana in the long run. For now, everyone’s watching to see if this signals a tougher stance on big crypto investments.