Notable news in the last 24 hours (08/08) BTC: 29,204 USD | ETH: 1,829 USD | Total market cap: 1,125 billion USD 1️⃣ The payments giant PayPal launched the PYUSD stablecoin. According to newly released information, similar to USDT or USDC, PayPal USD (PYUSD) is a stablecoin backed by the US dollar, short-term US government bonds and other cash-equivalent assets. In addition, PYUSD will be an ERC-20 token on the Ethereum platform. Currently, the stablecoin has only been introduced in the US through PayPal and Venmo apps. 2️⃣ The Central Bank of Singapore pledged to invest $112 million to accelerate Fintech innovation. On Monday, the Monetary Authority of Singapore (MAS) confirmed the allocation of funds over three years to the Financial Sector Technology and Innovation Programme (FSTI). Its stated purpose is to support projects in terms of "advanced" financing. The MAS statement also explicitly mentions "Web 3.0," a term used to describe the next version of the Internet. 3️⃣ Huobi's BTC and ETH reserves hit their lowest levels of the year. According to CryptoQuant, Huobi's BTC and ETH reserves are at their lowest levels recorded this year. In addition, in just 2 weekends, up to 64 million USD of stablecoins were withdrawn from the exchange. This data raised concerns in the community about Huobi's liquidity amid the FUD that is besieging the exchange. 4️⃣ A series of memecoins about scientific discoveries LK-99 appeared. The crypto community quickly tried to take advantage of a new scientific discovery to enlist the creation of memecoins. In recent weeks, at least 3 coins have appeared, capitalizing on the potential of the LK-99 phenomenon, a remarkable innovation from the Korea Quantum Research Institute.