SEC盖章Defi Development Corp.的10亿美元注册申请，引用了丢失的内部控制报告

此举是在监管机构发现该公司的S-3表格缺乏与10-K相关的关键内部控制报告。

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.

在美国证券和交易委员会封锁注册文件后，本周以10亿美元的票价购买Solana代币的计划遭受了重大挫折。

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发现该公司的S-3表格缺乏与其10-K相关的所需内部控制报告。没有该文件，委员会甚至无法考虑通过公开募股提出资本筹集的请求。结果，他们阻止了注册。

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

该公司以前称为Janover，提起了文件，并将在以后再试。

Missing Internal Controls Report

缺少内部控制报告

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.

根据SEC的说法，注册是不合格的，因为它不包括对财务报告所需的内部控制。对于任何通过公共产品筹集资金的公司来说，该报告都是必须的。没有它，委员会甚至都不会考虑您的要求。

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于2025年4月下旬提交，并计划出售Solana代币以资助运营。该公司截至2024年12月31日的财政年度的10-K于2025年3月30日提交，该公司应触发内部控制申请。

Plan To Buy Solana

计划购买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.

该公司计划使用这些资金购买Solana代币，该代币按市值排名第六。该文件显示，10亿美元中的一些将用于存放奖励和代币购买。

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可以定期获得回报，但仅当Sol持有或获得价值时。如果市场价格下跌，将如此大的股份放入一个连锁店会带来风险。

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.

该公司确认在此过程中没有发行证券。它说，一旦内部控制报告就位，它计划对其进行补充。

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（也许在30或45天内）会表明它们已经准备好了。投资者还将观察该公司是否带来了经验丰富的承销商或审计师以防止另一张滑倒。

Market Reaction

市场反应

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纳代币中涌入10亿美元将有助于提高价格。现在，该文件被搁置了，这些赌注可能会停滞不前。

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.

当大笔购买延迟时，市场通常会做出反应。根据交易模式，任何突然的购买订单的SOL的任何突然购买订单都可以上涨或下降。

What Comes Next

接下来会发生什么

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的经验强调了加密公司必须遵守与任何其他公共发行人相同的规则。跳过标准检查甚至可能是最大胆的计划。

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.

该公司的下一步行动将表明其能够与直接的监管步骤平衡其区块链的野心。目前，代币购买的计划处于困境，从投资者到开发人员的每个人都将密切关注下一个文件。