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 alarming to see the SEC retract on such a crucial issue after years of firmly stating their stance. The inconsistency muddies the regulatory waters, causing confusion and potential harm to market integrity. Kudos to @iampaulgrewal for holding them accountable and bringing this to light.