Some good news for #crypto2023

Bitcoin ($BTC) rose above $30,000 on Wednesday morning in Asia, as major players like PayPal delve into the crypto realm.

 PayPal launched its first stablecoin, called PayPal USD, on Tuesday. The stablecoin is backed by 1:1 by U.S. dollars and can be used to buy and sell cryptocurrencies on PayPal.

Solana ($SOL) led the post-PayPal stablecoin launch rally, with gains of over 10%. SOL is now the fifth-largest cryptocurrency by market capitalization.

Several U.S. banks were downgraded by Moody's on Tuesday, citing concerns about their exposure to the crypto market. The banks include Citigroup, Goldman Sachs, and Morgan Stanley.

Coinbase revenue beat estimates in the second quarter. The company's revenue rose 62% year-over-year to $1.17 billion.urrencies.