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DeFi Development Corp has run into a minor setback on its quest to raise $1 billion to buy more Solana after the US Securities and Exchange Commission knocked back its S-3 filing.
The Nasdaq-listed firm said in a statement to the SEC on Wednesday that it seeks to withdraw its previous registration statement because the commission found it wasn’t eligible to submit a Form S-3 after failing to include a management report on internal control over financial reporting before the due date.
A growing number of companies have been acquiring crypto for balance sheets, especially Bitcoin (BTC), with corporate Bitcoin treasuries collectively holding over three million Bitcoin, worth over $342 billion, according to Bitbo data.
Solana purchase plan not dead
DeFi Development Corp said the…more
Source cointelegraph.com
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