[pclmulqdq]

I'm not sure there have been many cases yet. The SEC has certainly published rules in the past that almost every crypto token is a security, but that doesn't mean that those rules have been tested in any sort of adversarial hearing. Either way, crypto companies had a lot of notice that the SEC would go after them if they don't register their tokens as securities with the SEC (unless the tokens fit a very narrow definition of a "utility token" and are usable at the time of the sale).

These SEC rules are a big part of the reason why NFTs took off: those were clearly not securities according to the rules.

The LBRY token was sold the same way every ICO pump-and-dump of 2018 went, but LBRY actually used those proceeds to figure out how to build an okay product. The rules were published. They didn't follow them.