🚀 Attention crypto-lovers! Beba, a clothing company in Texas, and the DeFi Education Fund join forces to defend the BEBA token airdrop against possible SEC actions. They seek a declaratory judgment in the Western Texas District Court and to clarify the limits of the SEC's authority. Beba created 100,000 BEBA tokens and has distributed 60,880 so far. The plaintiffs argue that the airdrop does not represent a contract under the Howey test. What do you think? Comment below! 💬

- Beba also offers discounts on its products to token holders.

- The lawsuit also challenges SEC policies under Gary Gensler, alleging violations of the Administrative Procedures Act (APA).

- Beba had already launched non-fungible tokens (NFT) before.