If he was saying "it depends" he had a lot of words to say that. His sentences were like my talking to the kids when I ask "did you do your homework?" It was

If he was saying "it depends" he had a lot of words to say that. His sentences were like my talking to the kids when I ask "did you do your homework?" It was painful. And note that some things can be both a security while wrapped around a commodity. Just look at brokered CDs. Such that, even if you agreed that ETH is a commodity, you can still have financial instruments on ETH that are securities.