For months, Donald Trump $TRUMP has publicly portrayed Vladimir Putin as a leader seeking peace, but behind closed doors, he's playing a very different game. In a private call earlier this week—joined by Volodymyr Zelensky, Emmanuel Macron, Friedrich Merz, Giorgia Meloni, and Ursula von der Leyen—Trump reportedly admitted that Putin still believes he's winning the war in Ukraine and has no real interest in peace.

This marks a sharp pivot from Trump’s usual narrative and raises a big question: is he finally waking up, or just hedging his bets?

Trump Talks Tough in Private, But No Pressure on Russia

Despite this behind-the-scenes confession, Trump still hasn’t followed up with any serious pressure—no sanctions, no demands, just more of the same wait-and-see approach. On Sunday, before the big call, Trump hinted to European leaders like Macron and Starmer that he might consider sanctions—if Putin rejected a cease-fire. But when it came down to it, he pushed for low-level talks in the Vatican instead.

Sound familiar? It's like watching a coin chart teasing a breakout—plenty of signals, no follow-through.

Europeans Try to Force Trump’s Hand

European leaders, especially Germany’s new chancellor Friedrich Merz, have been ramping up pressure. Think of it like Bitcoin $BTC and Ethereum $ETH leading a rally, while Trump is still stuck trading Dogecoin (DOGE) memes. Merz, Macron, Starmer, and Poland’s Donald Tusk even made a surprise visit to Kyiv to show they meant business. They called Trump directly and told him Ukraine was ready for a 30-day cease-fire.

Putin responded—barely. He sent low-tier negotiators to Istanbul, while skipping the talks himself. Classic stalling tactic.

Missed Opportunity or Strategy?

After that flop, Trump said he was scheduling another call with Putin. He told European leaders the only way forward was leader-to-leader negotiation. Meanwhile, in DC, Senator Lindsey Graham claims he’s lined up 81 co-sponsors for a tough sanctions bill targeting Russian oil and banks—potentially the biggest financial hit since Terra (LUNA) collapsed.

But will Trump back it? That’s still unclear.

The Vatican Gambit

The mid-June Vatican talks could be a turning point—or a time-wasting detour. European leaders want any agreement to include an unconditional cease-fire. Trump, as usual, claims he never said “unconditional,” despite clear posts to the contrary.

It’s a pattern we know all too well: big promises, little execution. Just like hyped altcoins that pump on news and dump on delivery.

Final Thoughts

In the crypto world, timing is everything—and in geopolitics, it's no different. Trump’s shifting positions, mixed signals, and delays could cost lives and credibility. European leaders are getting tired of the games. So are the markets.

If Trump really wants to be a dealmaker, it’s time to act—not just talk.