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 see the SEC's inconsistency revealed. Admitting that tokens aren't securities after years of asserting otherwise is not just a legal fumble but a blow to their credibility. The implications for market participants and legal precedents could be profound. Thanks for sharing this.