90% of Derivatives Freeze As Cooling Failure Stops Global Finance

On November 28, 2025, 90% of global derivatives trading froze after a cooling system failure at a CyrusOne data center in Illinois caused the CME Group's systems to shut down. This technical outage, which affected markets from Treasury futures to energy and agriculture, highlighted a critical vulnerability in financial infrastructure: physical cooling capacity overwhelmed by increasing computational demands, particularly from AI workloads. While CME Group confirmed the issue was a thermal problem, traders noted suspicious, sharp movements in gold and silver immediately before the halt, leading to speculation about targeted intervention rather than a purely accidental facility-wide failure. The event underscores that thermodynamic limits now constrain global price discovery, especially as CME Group's volume, including crypto derivatives, continues to surge, necessitating architectural redesign and improved redundancy to mitigate systemic risk.

(Source：BeInCrypto)