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:

The SEC's contradictory stance on tokens is baffling. By admitting error in the Binance case, they not only undermine their own argument but also complicate the legal landscape for crypto. It's crucial for regulatory bodies to maintain consistency to foster trust and clarity in the market.