[The People's Bank of China Conducts 7-Day Reverse Repo Operation of 79.3 Billion Yuan] The People's Bank of China conducted a 7-day reverse repo operation of 79.3 billion yuan today, with a bidding amount of 79.3 billion yuan, a transaction amount of 79.3 billion yuan, and an operating interest rate of 1.40%, unchanged from the previous rate.

On December 3, monitoring data showed that the 'Ultimate Bear' whale address (0x5D2) has been continuously closing BTC short positions for profit over the past 6 hours as BTC broke through $92,000. Approximately $30.17 million in short positions have been closed, with a profit of $3.86 million, and there is still an unrealized profit of $17.6 million. The current position size is approximately $80.97 million, with an average price of $111,500 and a liquidation price that has risen from $94,800 to $101,000, making it the largest BTC short position on the Hyperliquid platform. This address has also been continuously withdrawing over $34.09 million in account margin and transferring a total of $40 million to a Binance wallet. Today, it once again made a small deposit of $3 million in margin and closed short positions to raise the average price.

[pump.fun Transfers 75 Million USDC to Kraken Again] On-chain data shows that pump.fun transferred 75 million USDC to Kraken 2 hours ago. Since November 15, it has cumulatively transferred 555 million USDC obtained through ICO sales to Kraken within half a month.

[Hong Kong Gold Exchange Singapore Subsidiary Launches Physical Gold-Backed Token XGZ] The Singapore subsidiary of Hong Kong Gold Exchange (HKGX) has issued the digital gold token Gold Zip (XGZ), with each token backed by physical gold stored in accredited vaults, primarily located in Hong Kong.

[Experts Say Stablecoins Are Unlikely to Become Mainstream in the Currency Market] Hoe Ee Khor, Chief Economist at the ASEAN+3 Macroeconomic Research Office (AMRO), stated that stablecoins issued by non-bank institutions lack the ability to create money and have limited capacity to serve the real economy. In the long run, they are unlikely to become mainstream in the currency market. Meanwhile, the People's Bank of China pointed out that stablecoins pose risks such as money laundering and fraud. Currently, multiple regions around the world are exploring the development of digital currencies, including new payment tools launched by central banks, banks, and non-bank financial institutions.