DeFi Development Corp Withdraws Form S-3 for $1 Billion Raise

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…