INSUBCONTINENT EXCLUSIVE:
DeFi Development Corp has run into a minor setback on its quest to raise $1 billion to buy more Solana after the US Securities and Exchange
report on internal control over financial reporting before the due date.A growing number of companies have been acquiring crypto, especially
Bitcoin (BTC), with corporate Bitcoin treasuries collectively holding over three million Bitcoin, worth over $342 billion, according to
Bitbo data.Solana purchase plan not deadDeFi Development Corp said the withdrawal of the registration statement is consistent with the
statement in the future to raise the capital.DeFi Development Corp filed the Form S-3 registration statement with the SEC on April 25 to use
the funds for general corporate purposes, including more Solana (SOL) token acquisitions.It said at the time it may consider buying more
Solana with the net proceeds from this purchase
Solana firms make moves on staking, treasury and complianceIn a May 28 announcement, the firm also announced its adoption of Solana liquid
staking tokens and diverted part of its Solana holdings to the liquid staking token dfdvSOL
DeFi Development Corp jumps on the Solana trainDeFi Development Corp, formerly Janover, was mainly a real estate financing company that used
an AI-powered online platform connecting lenders and commercial property buyers
It has since become a Solana Treasury Company as well, with its first purchase of 2,858 Sol on April 8.DeFi Development Corp holds over
609,190 Sol in its treasury
Source: DeFi Development CorpThe company made its 11th purchase of 16,447 Solana at an average price of $139.66 on May 15, increasing its
stash to 609,190 Sol, worth over $97 million at current prices.A team of former Kraken exchange executives took over DeFi Development Corp
after purchasing over 728,000 shares on April 7
Joseph Onorati, former chief strategy officer at Kraken, has since been appointed chairman and CEO.Magazine: Rise of MicroStrategy clones,
Asia dominates crypto adoption: Asia Express 2024 review
