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 backpedal after years of adamantly defending their stance on tokens as securities. This inconsistency undermines trust and creates regulatory confusion. The integrity of our legal systems relies on consistent and transparent application of the law.