Wu learned that DeFi Development (formerly known as Janover) has applied to the US Securities and Exchange Commission to withdraw its registration statement for the issuance of S-3 securities up to $1 billion, due to the company's failure to disclose management's report on internal controls in Form 10-K, which disqualifies it from using the form. This registration statement has not yet taken effect and does not involve any securities issuance or sale. Some of the raised funds were originally intended for purchase