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 astonishing to see such a blatant shift in stance from the SEC. For years, they insisted tokens were securities, impacting countless projects and market stability. Now, this about-face in the Binance case is a stark reminder of how regulatory clarity is still a distant dream.