SEC蓋章Defi Development Corp.的10億美元註冊申請，引用了丟失的內部控制報告

此舉是在監管機構發現該公司的S-3表格缺乏與10-K相關的關鍵內部控制報告。

DeFi Development Corp's plans to buy Solana tokens with a $1 billion offering hit a major setback this week after the US Securities and Exchange Commission blocked the registration filing.

在美國證券和交易委員會封鎖註冊文件後，本週以10億美元的票價購買Solana代幣的計劃遭受了重大挫折。

The SEC found that the company's Form S-3 lacked a required internal controls report linked to its 10-K. Without that document, the commission cannot even consider a request for capital-raising through a public offering. As a result, they blocked the registration.

SEC發現該公司的S-3表格缺乏與其10-K相關的所需內部控制報告。沒有該文件，委員會甚至無法考慮通過公開募股提出資本籌集的請求。結果，他們阻止了註冊。

The company, formerly known as Janover, pulled the filing and will try again later.

該公司以前稱為Janover，提起了文件，並將在以後再試。

Missing Internal Controls Report

缺少內部控制報告

According to the SEC, the registration was ineligible because it did not include the required internal controls over financial reporting. That report is a must for any firm raising capital through public offerings. Without it, the commission won’t even consider your request.

根據SEC的說法，註冊是不合格的，因為它不包括對財務報告所需的內部控制。對於任何通過公共產品籌集資金的公司來說，該報告都是必須的。沒有它，委員會甚至都不會考慮您的要求。

DeFi Development filed in late April 2025 and had planned to sell Solana tokens to fund operations. The company's 10-K for the fiscal year ended December 31, 2024, was filed on March 30, 2025, which should have triggered the internal controls filing.

Defi Development於2025年4月下旬提交，併計劃出售Solana代幣以資助運營。該公司截至2024年12月31日的財政年度的10-K於2025年3月30日提交，該公司應觸發內部控制申請。

Plan To Buy Solana

計劃購買Solana

The company planned to use the funds to buy Solana tokens, which rank sixth-largest by market cap. The filing showed that some of the $1 billion would go toward staking rewards and token purchases.

該公司計劃使用這些資金購買Solana代幣，該代幣按市值排名第六。該文件顯示，10億美元中的一些將用於存放獎勵和代幣購買。

Staking can earn regular returns but only if SOL holds or gains value. Putting such a large stake into one chain carries risks if market prices dip.

Staking可以定期獲得回報，但僅當Sol持有或獲得價值時。如果市場價格下跌，將如此大的股份放入一個連鎖店會帶來風險。

The company confirmed that no securities were issued during this process. It said that it plans to refile once the internal controls report is in place.

該公司確認在此過程中沒有發行證券。它說，一旦內部控制報告就位，它計劃對其進行補充。

A quick resubmission—perhaps within 30 or 45 days—would signal that they were almost ready. Investors will also be watching to see whether the company brings in an experienced underwriter or auditor to prevent another slip.

快速重新提交（也許在30或45天內）會表明它們已經準備好了。投資者還將觀察該公司是否帶來了經驗豐富的承銷商或審計師以防止另一張滑倒。

Market Reaction

市場反應

Some traders had hoped that the influx of a billion dollars in Solana tokens would help boost the price. Now that the filing is on hold, those bets may stall.

一些交易者希望在索拉納代幣中湧入10億美元將有助於提高價格。現在，該文件被擱置了，這些賭注可能會停滯不前。

Markets often react when large purchases are delayed. Based on trading patterns, any sudden buy order of several hundred million in SOL could swing prices up or down.

當大筆購買延遲時，市場通常會做出反應。根據交易模式，任何突然的購買訂單的SOL的任何突然購買訂單都可以上漲或下降。

What Comes Next

接下來會發生什麼

DeFi Development's experience underscores that crypto firms must comply with the same rules as any other public issuer. Skipping standard checks can derail even the boldest plans.

Defi Development的經驗強調了加密公司必須遵守與任何其他公共發行人相同的規則。跳過標準檢查甚至可能是最大膽的計劃。

The company's next move will show how well it can balance its blockchain ambitions with straightforward regulatory steps. For now, the token-buy plan is in limbo, and everyone from investors to developers will be keeping an eye on the next filing.

該公司的下一步行動將表明其能夠與直接的監管步驟平衡其區塊鏈的野心。目前，代幣購買的計劃處於困境，從投資者到開發人員的每個人都將密切關注下一個文件。