Fifteen major counterparties just pulled $3.223 billion through the Fed's reverse repo operation. For those watching the macro picture, this is the kind of data point that matters—it reflects how the broader financial system is moving liquidity around and positioning itself. When you see these numbers fluctuating, it often signals shifts in how institutions are managing their cash and risk exposure. Whether you're analyzing market cycles or thinking about how traditional finance impacts the crypto space, keeping tabs on Fed operations gives you a clearer read on what's actually happening under the hood.