From Cointelegraph

June 12, 2025 2:14 am:

DeFi Development Corp hits a roadblock in raising $1 billion for more Solana due to SEC rejecting S-3 filing. Companies are increasingly acquiring crypto, with corporate Bitcoin treasuries holding over three million BTC worth $342 billion.

Despite setback, DeFi Development Corp plans to file a resale registration statement in the future for fundraising. The company originally filed Form S-3 registration statement on April 25 for general corporate purposes, including more Solana token acquisitions.

DeFi Development Corp transitions from real estate financing to Solana Treasury Company, holding over 609,190 Sol. Former Kraken executives bought shares, with Joseph Onorati appointed as chairman and CEO. The company continues to increase its Solana holdings, making its 11th purchase of 16,447 Solana on May 15.

In a May 28 announcement, DeFi Development Corp disclosed its adoption of Solana liquid staking tokens and diverted part of its Solana holdings to dfdvSOL. The company is actively involved in Solana acquisitions and treasury management, showcasing its commitment to the Solana ecosystem.

Read more at Cointelegraph: DeFi Development Corp Withdraws Form S-3 for $1 Billion Raise