Blockchain data showed stablecoin issuer Paxos both minted and burned 300 trillion tokens of the PayPal USD stablecoin within 30 minutes, leaving many crypto users scratching their heads. In a Wednesday X post following …
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The accidental move briefly made PayPal’s PYUSD the largest stablecoin in the world before Paxos burned the newly minted supply. Fintech giant PayPal made an interesting move today, minting $300 trillion of its PYUSD …
- Web3 Technology
Printing Money: Paxos Mints, Then Burns $300 Trillion in PayPal Stablecoins
by adminby adminCrypto industry observers were baffled Wednesday afternoon when an on-chain transaction showed that Paxos, the issuer behind the PayPal-branded PYUSD stablecoin, minted $300 trillion worth of the tokens on the Ethereum blockchain. A little …
