DeFi Development secures $5 billion credit line to purchase Solana (SOL)

JH Kim

Summary

DeFi Development announced that it has signed a funding agreement worth $5 billion to purchase Solana (SOL).
The funding is in the form of stock-based financing, and the company stated it would submit related documents to the U.S. Securities and Exchange Commission (SEC).
It was noted that previously, after being notified of ineligibility by the SEC, the company withdrew a $1 billion securities issuance application.

According to CoinDesk, a cryptocurrency-focused media outlet, on the 12th (local time), DeFi Development (formerly Janover) has entered into a stock-based funding agreement worth $5 billion with RK Capital Management to purchase additional Solana (SOL).

DeFi Development plans to submit relevant documents to the U.S. Securities and Exchange Commission (SEC), and through this funding, intends to acquire more SOL.

Previously, DeFi Development withdrew a $1 billion securities issuance application after being notified of ineligibility by the SEC.

SOL

JH Kim

reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.

DeFi Development secures $5 billion credit line to purchase Solana (SOL)

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