A Goldman Sachs trader weighs in on what the Fed's subpoena could mean for market dynamics ahead. When major financial institutions face regulatory scrutiny, it typically signals tightening oversight—something that ripples across asset classes, from traditional markets to crypto. The timing matters. While the direct impact on trading may be contained, the broader message about regulatory intensity can shift risk appetite across the board. Traders monitoring macro conditions and policy shifts should pay attention to how this unfolds. These regulatory moves often precede broader market adjustments, especially when they target tier-one players. Keep an eye on Fed communications and policy signals in the coming weeks.