DeFi Development’s ambitious plan to acquire Solana (SOL) for $1 billion has been halted by the SEC. The regulatory body rejected the company’s offering, which aimed to raise funds through a shelf-offering, mirroring MicroStrategy’s Bitcoin strategy but facing similar scrutiny from the SEC. The SEC’s decision throws uncertainty on the future of this initiative and potentially impacts investor confidence in Solana. 19b4 filings for SOL spot ETFs are facing rejection by the SEC under the current administration as noted by FOX Business reporter Eleanor Terrett. DeFi Development’s plans to acquire significant amounts of Solana, previously known as Janover, now face a setback. This move may influence future corporate strategies within the cryptocurrency market.