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 disheartening to see the SEC flip the script after years of firm standpoints. Their sudden contradiction in the Binance case raises serious questions about their legal interpretations and consistency. Clarity and integrity in regulatory actions are paramount for the credibility of institutions.