The global market in 2025 swings dramatically between extreme narratives and cold liquidation, offering investors a profound lesson in risk management. The cryptocurrency market witnessed a complete bubble cycle where "Trump concept" assets soared in popularity before crashing over 80%, exposing the fragility of relying solely on political narratives. Meanwhile, traditional financial markets (TradFi) staged several classic duels: "Big Short" Michael Burry targeted AI giants, Jim Chanos hunted Bitcoin-listed companies, demonstrating that macro trading based on in-depth research remains effective. From the soaring European defense stocks to the collapsing Turkish arbitrage trades, capital rapidly shifts driven by politics, liquidity, and human greed, ultimately revealing an eternal truth that runs through both crypto and TradFi: when the tide goes out, only solid fundamentals and prudent risk management can survive.

Facing the severe Fluctuation in 2025, what truly destroys traders is not a single loss, but rather uncontrolled Risk Management and emotional reactions. Only by fixing rules and rebuilding processes can we avoid repeating past mistakes. 2025 will be another year of Fluctuation, but many people will suffer losses in trading. This article is not written for those who have been suffering long-term losses, but for those traders who were originally making stable profits and had outstanding abilities, yet have given back a large amount of earnings this quarter. One of the most painful things in life is watching months or even years of effort go down the drain in an instant. In Greek mythology, Sisyphus was punished by the gods for his transgressions with an eternal punishment: he must endlessly push a huge boulder up a mountain, and every time he reaches the peak, the boulder rolls back down, forcing him to start all over again. The cruelty of this punishment is unique and strikes at the core of human experience. Trading is the same. Unlike most professions, trading does not have

The Eternal Protocol collapsed just two days ago, and a similar model, the LAF protocol, has also declared its collapse in a virtual money scam. The coin price has fallen to single digits, with the pool emptied to just a few million, and within a short span of about 10 days, it has siphoned off tens of millions of USDT, leaving countless participants with nothing. This scheme promises an investment of 1000 USDT with a daily interest of 1.5%, a 30-day cycle, and an annual percentage rate as high as 547.5%, but in reality, it is just a Ponzi scheme.

Intel (Intel) CFO David Zinsner stated at the Citigroup 2025 Global Technology, Media and Telecommunications Conference on September 4 that the company will use the funds injected by the U.S. government to pay off debts maturing at the end of the year, while emphasizing that TSMC (TSMC) is an "eternal partner." The U.S. government holds shares, eliminating uncertainty regarding subsidies. According to reports, Zinsner mentioned during a conversation with Citigroup analyst Christopher Danely that Intel originally had about 5.7 billion dollars in subsidies pending before the U.S. government took a stake. Although they have currently received 2.2 billion dollars in government allocated subsidies, it is still uncertain whether they will be able to secure the remaining 5.7 billion dollars. He added that even the 2.2 billion dollars in subsidies already received come with a "clawback clause" (Clawback).