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 truly perplexing to see the SEC flip-flop on their stance after years of rigid enforcement. Such inconsistency not only undermines trust in regulatory clarity but also shakes the foundation of legal arguments involving tokens. Kudos to @iampaulgrewal for shedding light on this baffling turn.