SEC Blocks DeFi Development’s $1B Solana Acquisition Plan, But Vision Remains

DeFi Development’s ambitious plan to acquire $1 billion in Solana via securities sales has been stalled by the U.S. Securities and Exchange Commission (SEC). The firm’s application was rejected due to missing paperwork and eligibility issues. This decision marks a significant setback for the company, which had envisioned becoming a major player in the Solana ecosystem.