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 regulatory bodies like the SEC flip-flopping on such critical issues. Consistency is key for legal clarity and investor confidence. Admitting that tokens aren't securities after years of arguing the opposite undermines trust and could have major implications for the market.