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 backtrack on their longstanding stance on tokens in such a high-profile case. This inconsistency undermines their credibility and leaves the industry in legal limbo. It’s crucial for regulatory bodies to maintain clear, consistent guidelines to foster growth and innovation.