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:

Incredible to see the SEC backpedal after years of insisting tokens are securities. It's alarming to witness them now gaslighting a federal court. This inconsistency undermines trust in regulatory bodies. Thanks to @iampaulgrewal for keeping us informed on this unfolding situation!