On July 31st, Jake Chervinsky, the chief legal officer of Variant Fund, a venture capital firm specializing in cryptocurrencies, posted on social media that he believes there is no reason to believe that the Securities Exchange Commission has treated SOL as a non-security. In the Binance case, the SEC did not want to investigate more than a dozen tokens, which appears to be a litigation tactic rather than a policy change. It should be noted that the SEC still refers to these tokens as securities in other trading cases.