SEC Halts DeFi Corp’s Solana Acquisition Spree Over Missing Financial Report

The U.S. Securities and Exchange Commission (SEC) has halted DeFi Corp’s planned $1 billion Solana acquisition, citing a missing internal control financial report as the reason for rejection. Despite this setback, DeFi Corp maintains its intention to increase its Solana holdings through a future resale registration statement, aiming to acquire more tokens. The company, formerly known as Janover, shifted focus towards crypto-focused operations after acquiring over $97 million worth of Solana in recent purchases.