Share this article
GameStop's Halting Rally Has Crypto Howling
The U.S. stock market has circuit breakers that halt shares sometimes as a safeguard. That's funny to crypto folks.
Updated May 13, 2024, 4:32 p.m. Published May 13, 2024, 3:54 p.m.
- GameStop (GME) stock was halted multiple times amid a huge surge on Monday, drawing laughter from crypto fans.
- Crypto goes 24/7 without any circuit breakers, unlike the stock market.
GameStop (GME) is yet again the stock of the day, soaring Monday due to support from traders gripped by meme-stock fever.
But it was a stilted rally, halted repeated by the U.S. stock market's famous – or infamous, depending on one's perspective – system of "circuit breakers" designed to prevent prices from getting out of control.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
And that has enthusiasts of cryptocurrencies, where markets go 24/7 with no circuit breakers (except for the occasional exchange malfunction), laughing.
“triggers circuit breaker”
— Chad Bet$ (@ShitcoinSurfer) May 13, 2024
crypto bros: pic.twitter.com/SmIEPONnpZ
The U.S. stock market got circuit breakers in stages following the harrowing crash of October 1987, initially set up as a brief whole-market shutdown in case of a rapid collapse and then later, following the so-called flash crash of May 2010, more tailored toward restraining individual stocks.
These are government-mandated things. Former U.S. Treasury Secretary Nicholas Brady is credited with inventing the marketwide one after the 1987 crash. "The circuit breaker that I invented restores calm," he told a CoinDesk reporter at a prior job.
Yet there are criticisms. If markets plunge but they're frozen, traders can't immediately swoop in and buy, driving prices back up. After Ethereum's ether plunged to 10 cents from $317.81 in less than a second back in June 2017, Coinbase said it was considering introducing circuit breakers. It never did. Within 10 seconds, it was back above $300, an executive said at the time in an interview with Bloomberg.
Back in 2024, everything from bitcoin to dogwifhat (WIF) kept chugging along Monday as GameStop was temporarily stuck.
Guess what they can’t halt ? pic.twitter.com/5eyr6KIzBR
— KingFUD (@Joedidonato94) May 13, 2024
Read more: Solana Meme Coins, GameStop Stock Rocket as 'Roaring Kitty' Returns on X
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
Top Stories
