SEC halts DeFi Dev Corp’s $1B Solana investment – Why & what next?

• SEC blocked DeFi Development’s $1 billion Solana investment over missing internal controls report.
• Solana saw $423 million inflow as investor caution rises after DeFi filing setback.

In a move that highlights ongoing regulatory hurdles for crypto firms, the U.S. Securities and Exchange Commission (SEC) has halted a $1 billion registration attempt by DeFi Development Corp.

The company, formerly known as Janover, had aimed to direct the capital toward investments in the Solana [SOL] blockchain.