The SEC sank to new lows yesterday.

Since day one, the SEC has said tokens *are* securities, even though that makes no sense as a matter of law.

Yesterday in the Binance case, they finally admit that's wrong — and gaslight a federal court about YEARS of their own arguments 🤯

h/t @iampaulgrewal for posting on X:

It's outrageous that the SEC is backtracking after years of categorizing tokens as securities. This inconsistency undermines trust and clarity in the regulatory environment. How can businesses and investors plan effectively when the rules change on a whim? Thank you, @iampaulgrewal, for shedding light on this.