Haha, yeah I can't see the BTC crowd all being on-board with this. That said, while I don't think the exchanges need to (or realistically could) coordinate on

Haha, yeah I can't see the BTC crowd all being on-board with this. That said, while I don't think the exchanges need to (or realistically could) coordinate on circuit breakers, I do think it's entirely reasonable for there to explore this type of mechanism on a per-exchange basis in the case of GDAX and other exchanges where margin is allowed, to prevent the whole "cascading margin call" thing that happened with ETH to happen again. That could take a lot of forms, including limiting the size of market orders to not eat 30% of the book, or not allowing 1 market order to trigger margin calls if (insert criteria here) (That said, they could also just say "that's how margin and trading goes on low-volume, highly volatile assets" and technically be correct, but much like their decision to reimburse some traders, this is more of a business decision and wanting to keep your customers. Not sure what the "right" answer is.)