🔔 Ding Ding! Round 1 of Coinbase vs SEC! Coinbase tried to subpoena SEC Chairman Gensler's personal communications. Judge Failla was like, "Really, Coinbase? 🤨" She found the request "bordering on the fatuous" and wasn't moved by any arguments.

Coinbase's lawyer Schwartz argued that Gensler's communications were relevant. SEC's Tenreiro disagreed, saying it could set a concerning precedent. Judge Failla leaned towards SEC's view but asked both parties to work on a briefing schedule. 📑

Coinbase initially served the SEC with document requests in April and planned to subpoena Gensler's personal crypto-related communications from his tenure and 4 years prior. SEC called this an "improper intrusion" into Gensler’s private life. 🛑

Coinbase argued that subpoenaing Gensler’s personal communications is fair game as he is a prominent regulator and vocal academic commentator on digital assets and exchanges. What do you think? Fair or foul? Comment below! 👇 #DeFi #Web3 #CryptoNews