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 flip-flop on their stance after years of certainty. Admitting that tokens aren't securities after all this time undermines their credibility and confuses the entire market. This kind of inconsistency is unsettling for everyone invested in the future of digital assets.