The Securities and Exchange Commission (SEC) has halted DeFi Development Corp’s $1 billion fundraising effort, citing a missing internal controls report. The company sought to raise capital for general corporate purposes, with a substantial portion earmarked for investing in Solana tokens. 4 However, the SEC determined the filing was ineligible due to this omission, leading to the withdrawal of the application and an expected re-submission. This decision stems from compliance issues identified during the document review process. The company initially operated under the name Janover before applying for registration in April. A new filing is planned following the resolution of these concerns. 3 DeFi Development Corp’s investment strategy was to use a portion of the funds to buy Solana tokens, including those within the Strategy Bitcoin plan, and leverage potential staking rewards for returns. The firm aimed to capitalize on these activities while hoping that the value of Solana would appreciate post-purchase. However, this initial investment plan is currently on hold as the SEC’s intervention creates uncertainty regarding its future.