Bitcoin dropped beneath the $92,000 level on December 3, with its 24-hour gain contracting to 4.5%, according to HTX market data. The price movement marks a pullback from earlier session highs as the digital asset consolidates gains.

Binance has implemented a co-CEO framework with Yi He assuming responsibilities for product development and organizational culture, she said at Binance Blockchain Week on Dec. 3. Under the structure, CEO Richard Teng focuses on regulatory matters while Yi He concentrates on user-centric culture, human resources, and product iteration. Yi He said the co-CEO system aims to build a sustainable organizational structure rather than relying on individual capabilities, with Teng's regulatory background positioning him as the primary bridge for compliance communications.

The probability of a 25 basis point Federal Reserve rate cut in December fell to 88.8% following the December 3 ADP employment report, down from 89.2% before the release, CME FedWatch Tool data show. The odds of rates holding steady stood at 11.2%. For the January meeting, the likelihood of no change was 29.5%, while probabilities for a cumulative 25 basis point cut and 50 basis point cut were 63% and 7.8%, respectively. The Fed's next FOMC meetings are scheduled for December 10 and January 28, 2026.

U.S. private sector employment fell by 32,000 jobs in November, ADP reported on December 3, following an upwardly revised gain of 47,000 in October. The U.S. Bureau of Labor Statistics rescheduled its November employment report to December 16 from December 5 due to a recent government shutdown. Economists cite economic uncertainty from tariff policies as contributing to labor market stagnation, noting initial jobless claims align with a "no hiring, no firing" narrative despite the ADP data showing weakening conditions. In September, the U.S. economy added 119,000 jobs with unemployment rising to a four-year high of 4.4%, Jinshi reports.

U.S. ADP employment fell 32,000 in November, the lowest level since March 2023 and below market expectations of a 10,000 gain, Jin10 reports. Employment growth stagnated in the second half of 2025, with manufacturing, professional and business services, information, and construction showing weak hiring in November. Spot gold rose approximately $6 to $4,219.53 per ounce following the report's release.

U.S. private-sector employment fell by 32,000 in November, missing the market forecast of a 10,000 increase, Jin10 reports. The decline reversed October's gain of 42,000 positions.

The probability of a 25 basis point Federal Reserve rate cut in December stood at 89.2% before the Dec. 3 ADP employment data release, with a 10.8% chance of rates remaining unchanged, CME FedWatch data show. For the cumulative outlook through January 2025, the tool showed a 66.6% probability of a 25 basis point reduction, a 25.7% probability of a 50 basis point cut, and a 7.7% chance of no change.

The Ethereum Fusaka upgrade will activate at 21:49:11 UTC on Dec. 3 (05:49:11 Beijing time on Dec. 4), BlockBeats reports. The upgrade will be implemented simultaneously across Ethereum's consensus and execution layers, raising the block gas limit to 60 million and introducing BPO forks to facilitate future blob parameter adjustments. The enhancement is designed to improve Ethereum's capacity to process large-scale transactions from Layer 2 networks, with projected Layer 2 fee reductions of 40% to 60%.

A cryptocurrency whale withdrew 171 BTC valued at $15.79 million from Binance on Dec. 3, marking the address's first on-chain activity in one year, OnchainLens data show. The transaction was detected through blockchain monitoring.