How is everyone feeling after the SEC v LBRY ruling?

Many of you are likely aware that the SEC won its case against LBRY today. For those that don't know about LBRY, LBRY, is/was a blockchain-based file-sharing and payment network that powers decentralized platforms, primarily social networks and video platforms. LBRY's creators also created Odysee, an open-source video-sharing website that uses the network, and that was split into a separate company on October 1, 2021. Odysee was basically a decentralized youtube that allowed people to tip content creators.

The SEC sued LBRY last March and won its case today. The following information is from the SEC's press release on the case: "[t]he SEC seeks permanent injunctive relief, disgorgement plus prejudgment interest, and civil penalties. The SEC's complaint alleged that, from at least July 2016 to February 2021, LBRY, which provides a video sharing application, sold crypto asset securities called "LBRY Credits" to numerous investors, including investors based in the US. The complaint alleges that this was an offering and sale of securities under the federal securities laws, and that LBRY did not file a registration statement for the offering. The complaint further alleges that by failing to file a registration statement, LBRY denied prospective investors the information required for such an offering to the public."

This case is relevant because it puts most of the cryptocurrency market/ industry in the SEC's crosshairs. It is also relevant because the SEC will most likely use the LBRY ruling in its case against Ripple Labs, and probably the Coinbase employees that were charged with insider trading too. While it should be noted that LBRY relied on the fair notice defense, and Ripple Labs is arguing that XRP fails the Howey test, this really wasn't great news to hear.

One of the SEC's main arguments was that LBRY pre-mined its tokens, and kept a portion of those tokens for itself, and also that the LBC token did not have a use case when it was first created. How do you think centralized exchange tokens like BNB , CRO, FTT, Gemini dollar and others will be affected by this ruling? What about Tether?

I think that each coin/its founders will have to argue that their token fails the Howey test, or that fair notice was not given. I don't think that the LBRY ruling will act as a blanket ban on the cryptos we know and love. I do think that the cryptocurrency industry will continue to feel uneasy while current and additional SEC cases are litigated. I think it is annoying that the SEC can say "you didn't give prosepctive investors information required for such an offering" when no one knows shit about fuck. Being more serious, it's annoying that while the SEC is arguing securities laws were broken, it is ultimately the hodlers of the tokens that are harmed by the decrease in price that inevitably results from a crypto being deemed a security.

It's my opinion that bitcoin is probably the most safe (as everyone has been saying) from the SEC. For the short-mid term, that's what I will be focusing my DCA on.

So, what are everyone's thoughts on today's ruling? How do you feel? Are you buying more, keeping your DCA, or holding off until more news? Wen Lambo?

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TLDR: SEC won its case against LBRY today. How are you feeling about it?

Edit: updated information about the Coinbase employees the SEC charged with insider trading.