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:

The SEC has failed to protect investors from a whole lot of major scams while going after legitimate projects on a regular basis. They should be abolished, we have this great thing now called the internet and DYOR, I don't need the state telling me how I should invest my money when they can't even balance a budget.