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 shocking to see the SEC backtrack on their long-standing stance about tokens being securities. This level of inconsistency not only undermines their credibility but also causes chaos in an already turbulent market. The court deserves clear, consistent arguments, not regulatory whiplash.