Presidential quarrels and crypto“circuit breakers”: a modern world farce

The turning points of history are becoming more and more dramatic.

Author: Seven Drinks, Seven Research

Recently, I feel like I haven't done anything, but I've been witnessing history every day. Today, I saw two presidents criticizing each other in the media, and they eventually parted ways in a disgruntled manner. It seems that the events happening in the world are becoming more and more interesting. In the past, we could only see the power struggles between various forces in some TV dramas, but today, we are seeing the top-level officials openly tearing each other apart in the media, which is a fresh sight.

The background of this event is that Zelensky and Trump originally planned to sign a mineral agreement, involving Ukraine opening up its mineral resources to the United States to offset the previous US aid. However, the conversation soon veered off course. Initially, the on-site reporters asked Zelensky why he didn't wear a suit, and Trump made some sarcastic remarks. Later, the conversation shifted to the issue of the war. Trump accused Zelensky of being "ungrateful" for US aid and pressured him to negotiate with Russia, threatening to withdraw support if an agreement was not reached.

The argument then became public, with US Vice President Pence also joining in, criticizing Zelensky for "arguing" in front of the media in the Oval Office, disrespectfully. Trump even said that Zelensky was "risking World War III." The atmosphere was tense. Eventually, Zelensky left early, the mineral agreement was not signed, and the joint press conference was canceled.

The underlying grudges can be traced back to the "Ukraine Gate" incident in 2019, when Trump asked Zelensky to cooperate with the investigation into the Biden family's relationship with a Ukrainian energy company, and later froze military aid. Trump was later impeached, but the incident had severely damaged the relationship between the two. Additionally, Zelensky has consistently sided with Biden, so Trump naturally hasn't let it go. Watching this argument, I feel a bit complex. However, I think Zelensky had a slight upper hand in this verbal battle. Trump's bullying and overbearing manner reminded me of a mafia boss, and Pence was just abusing his power.

Okay, let's move on to the recent chaos in the crypto sphere.

Binance Launches "Circuit Breaker Mechanism"

Binance quietly launched a "circuit breaker mechanism" yesterday, which limits the trading price to a certain percentage of the initial opening price. For example, from February 28, 2025 to March 1, 2025, the maximum allowed price is 200% of the opening price.

If you are an old stock investor in the A-share market, this kind of restriction should not be unfamiliar to you. The A-share market has a 10% price limit, while Binance has a "more relaxed" version with a 200% range, as the crypto market often sees price surges of hundreds of times.

As a result, Binance's move has driven all trading users to its competitors. If you restrict my trading, I naturally go elsewhere. Moreover, in the crypto sphere, the initial launch often sees 10x or 100x price surges, who would want to miss out on such opportunities?

If I were a user, I would probably abandon Binance and invest in other platforms. Let's not forget that everyone is here to make money. Binance claims to be the largest trading platform in the universe, but if you limit the price surge, how can you retain the vast speculative crowd? If I were a product manager, I might be suspected of being a mole sent by a competitor, or perhaps the product manager is truly trying to protect the interests of investors, having been hurt in the A-share market and now learning from it in the crypto sphere.

This circuit breaker mechanism is unlikely to be effective in the Crypto sphere. Even if Binance is the largest exchange, it cannot dictate the rules of the entire industry. Don't forget, there are also decentralized exchanges (DEXs) on the blockchain, where users can directly purchase what they can't buy on centralized exchanges, without being subject to the restrictions of these centralized platforms.

Solana Futures Planned to List on the Chicago Mercantile Exchange (CME)

Yesterday, the Chicago Mercantile Exchange (CME) issued a press release stating that it plans to launch Solana futures on March 17th. However, it's important to note that this is just a plan, and it still needs to be approved by the regulatory authorities. In 2024, there were rumors that CME had no plans to launch Solana futures, and recently in early 2025, there were rumors that Solana futures would be listed on February 10th, but CME later said it was a leak from a test website, which seems to be a familiar tactic.

I have never participated in Solana, including the recently hot MEME tokens. I've always felt that Solana doesn't seem like a real blockchain product, and my impression of it is that it experiences downtime from time to time, which is a joke in the Crypto sphere. Perhaps I have some prejudice against it.

I feel that everyone should be a little more cautious, as the recent market conditions have not been particularly good. I've heard that there will be a "crypto conference" held at the White House in March, but the information revealed so far is not very much. I feel that it's a bit like a "defection meeting", where project parties in the circle may take the opportunity to express their attitudes to the White House. It's also possible that Trump's crypto advisory team may take the opportunity to seek some benefits from these project parties, and then create a XX alliance to engage in some interest exchanges. The more I think about it, the more I feel that this circle is going to be ruined by Trump.

That's all I'll write for now, as the turbulence in the crypto world and the political arena is full of absurdity and irony.

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