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 shocking to see the SEC backtrack on its own long-held stance. This isn't just about Binance; it's about consistent and fair regulatory standards. Changing positions like this undermines trust and raises questions about their true intentions when it comes to digital assets and the crypto industry.