USDT dropped below 7 Chinese yuan on Binance on Dec. 4, trading at 6.99, market data reported by BlockBeats show. USDC against the yuan stood at 6.96. The decline follows a Nov. 28 coordination meeting convened by the People's Bank of China alongside over a dozen agencies to combat virtual currency trading speculation. Attorney Xiao Sa noted the meeting primarily targets illegal currency exchange activities using stablecoins, which authorities view as severely disrupting financial order.

A whale address transferred 30,603 ETH valued at $70.55 million to Binance and Galaxy Digital between Oct. 28 and Dec. 4, on-chain analyst Ai Yi reports. The transfers averaged $3,299 per ETH. The address began accumulating ETH in 2017 and has previously interacted with Fengbushi Capital and FBG Capital.

Address 0xa43 holds a long position of 19,628.65 ETH worth approximately $63.22 million on Hyperliquid, with an average entry price of $2,950.23, on-chain analyst Ai 姨 reports. The address ranks as the second-largest ETH long position holder on the platform. The unrealized profit has fully offset losses from 17 trades over the past three days.

Japan's 30-year government bond yield hit a record high of 3.445% on Thursday morning, Jin10 reports. The Ministry of Finance plans to sell 700 billion yen in notes in this maturity segment, with auction results scheduled for afternoon release. Takayuki Miyajima, economist at Sony Financial Group, said that while speculation over a Bank of Japan rate hike and concerns about fiscal expansion are driving selling pressure, the upcoming 30-year bond auction is expected to see smooth results as high yields support demand. The upward trend in Japanese government bond yields reflects market expectations for a BOJ rate increase in December and concerns over potential deterioration in Japan's fiscal position.

The Web3 sector lost $183,981,395 to major security incidents in November, GoPlus said in a monthly security report released Dec. 4. The Balancer attack accounted for $128 million in losses, while the Upbit breach resulted in $36.8 million stolen. Smart contract vulnerabilities caused $175,031,395 in damages across 15 major incidents, and phishing attacks led to approximately $8 million in losses affecting around 7,000 victims.

The address labeled 'pension-usdt.eth' increased its 3x leveraged BTC short position by approximately $60 million over the past hour, bringing total holdings to $93.2 million at an average entry of $92,700 with a floating loss of $460,000 (1.4%), Coinbob address monitoring shows. This makes it the largest BTC short position holder on Hyperliquid as of December 4. The address partially closed around $60 million in BTC shorts at breakeven at 0:00 today before re-establishing the position this morning. The whale frequently engages in swing trading with low-leverage large positions, averaging 8-hour hold times this week, and has generated $6.6 million in monthly profits.

Strategy has established a 24-month dollar buffer reserve, acknowledging non-zero probability of deep or prolonged Bitcoin corrections, CryptoQuant reported Wednesday. The dual-reserve model holding both dollars and Bitcoin reduces forced liquidation risks during downturns, marking a shift from the company's 2020-November 2025 approach of continuous Bitcoin accumulation through equity and convertible debt issuance. CryptoQuant notes this transition means reduced marginal Bitcoin buying will weaken demand channels seen in previous bull cycles, while dollar reserves and disclosed hedging capabilities significantly lower forced-sale probability during financial stress.

A whale known as "CZ counterparty" turned a $21 million loss on Ethereum long positions into a $460,000 profit on Dec. 4, HyperInsight data show. The trader holds approximately $168 million in ETH longs at an average entry of $3,201, while maintaining an $85.38 million XRP long position with a $3.63 million unrealized loss. Separately, Machi Big Brother reduced ETH, ZEC, and HYPE long positions over the past two hours and currently holds $29.46 million in ETH longs with $2.03 million in unrealized gains. Another whale, identified as "suspected XPL insider," opened 5x leveraged ETH and 7x leveraged SOL long positions totaling $6.19 million after remaining inactive for over 10 days.

The U.S. Securities and Exchange Commission has suspended applications for exchange-traded funds with leverage exceeding 200%, sending warning letters to multiple providers, Cointelegraph reported on Dec. 4. ETF issuers Direxion, ProShares, and Tidal received letters citing provisions under the Investment Company Act of 1940, which caps investment funds' risk exposure at no more than 200% of the value-at-risk of their unleveraged reference portfolio or benchmark indices.