Here’s some confirmation that crypto isn’t entirely toxic: In the hours after internet payments pioneer PayPal announced a stablecoin on Ethereum, the company’s stock rallied 2%. Of course, as ever in the world of crypto, it’s not all sunshine and roses: After the surprise PYUSD stablecoin announcement, a bevy of imposter tokens like “pepeyieldunibotsatoshidoge” (aka PYUSD) have launched on Ethereum, various layer 2s and BNB Smart Chain looking to capitalize on post-announcement ignorance and buzz. This is an excerpt from The Node newsletter, a daily roundup of the most pivotal crypto news on CoinDesk and beyond.