Paxos accidentally minted $300 trillion of PayPal’s stablecoin. It’s not clear how the firm made such a colossal mistake. The firm applied for a banking charter in August. Paxos’ erroneous creation of trillions worth …
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Paxos
The New York Department of Financial Services (NYDFS) confirmed today that Paxos, the issuer of PayPal USD (PYUSD), accidentally minted $300 trillion worth of unbacked stablecoins on October 15, 2025. The regulator added that …
- Bitcoin & Ethereum
Paxos Fat-Fingers $300T of PayPal’s PYUSD, Outpacing U.S. Dollar’s (USD) $2.4T Supply
by adminby adminOn Wednesday, stablecoin issuer Paxos accidentally minted $300 trillion worth of PayPal Holdings Inc.’s PYUSD stablecoin on Ethereum – a “fat finger” error on the blockchain that far exceeded the total U.S. dollar circulating …
Paxos accidentally minted $300 trillion in PYUSD today, prompting community incredulity. The firm quickly burned these tokens and minted $300 million, claiming user error. This gaffe has highlighted a real concern in stablecoins: these …
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 …
Bitcoin & Ethereum
A $300 Trillion Fat-finger, as Paxos Accidentally Mints and Burns PYUSD
by admin
by admin
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 …
Web3 Technology
Printing Money: Paxos Mints, Then Burns $300 Trillion in PayPal Stablecoins
by admin
by admin
Crypto 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 …
