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 astonishing to witness the SEC's inconsistency. Years of firm statements that tokens are securities, but now a sudden pivot in the Binance case? This flip-flop damages their credibility and sows confusion in the market. Transparency and consistency are essential for fair regulation and trust.