DeFi Development withdrew the $1 billion securities issuance sign up statement

According to the Gate News bot, DeFi Development (formerly known as Janover) has submitted an application to the SEC to withdraw its registration statement for the issuance of securities under the S-3 form, which was for up to $1 billion. The withdrawal is due to the fact that the company's Form 10-K did not include a report from management about internal controls, thus not meeting the conditions for using that form.

This registration statement has not yet become effective, and no securities have been issued or sold. Previously, part of the raised funds was planned to be used to purchase Solana. DeFi Development stated that it will refile the relevant registration documents in the future.

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