The current progress of China-US trade negotiations may have indirect but far-reaching effects on Circle B (the blockchain and cryptocurrency industry). On one hand, if the negotiations achieve breakthroughs and tariff barriers are lowered, it could promote China-US technological cooperation, including the cross-border application and investment flow of blockchain technology. On the other hand, if the negotiations reach a stalemate, the US may further tighten technology export controls, affecting Chinese blockchain companies in key areas such as chips and cloud computing supply chains. In addition, China's countermeasures on key resources like rare earths may impact the global high-tech industry, including the manufacturing of cryptocurrency mining equipment. Therefore, investors in Circle B need to closely monitor the dynamics of the negotiations, especially the terms related to technology restrictions and financial policies, to respond to potential market fluctuations.