According to ChainCatcher, Fox reporter Eleanor Terrett posted on the X platform that in Kraken's hearing on the U.S. Securities and Exchange Commission (SEC)'s motion to dismiss, the SEC insisted on its "ecosystem" view to show that digital asset buyers are "buying something."
SEC lawyers encouraged Judge Orrick to consider not only the contract, but also the overall "substantial content", such as promotional materials, statements from the issuer; he even cited Kraken's website, which mentioned the "ecosystem."
