Where's that. >> Welcome back. Cryptocurrencies under pressure this morning again.This after a $300 trillion, yeah, you heard that right. $300 trillion mistake by a partner of PayPal, which sent shock waves across the industry yesterday. CNBC's Mackenzie Sagalos has the story for us.Can explain to us what exactly happened here, McKenzie. >> Hey, David. So, PayPal's big crypto bet is its dollar peg stable coin.It's called PYUSD. And as you said, it briefly created $300 trillion dollars out of thin air this w ...

Core Insights - A significant incident occurred involving PayPal's stablecoin PYUSD, where a mistake by Paxos led to the creation of $300 trillion in tokens without reserves, raising concerns in the cryptocurrency industry [2][3][4]. Group 1: Incident Details - The error was due to an internal transfer by Paxos, the issuer of PYUSD, which resulted in the minting of an amount exceeding 100 times the total US cash in circulation [2][3]. - The mistake was publicly visible on the Ethereum blockchain and was reversed approximately 20 minutes later after being flagged by on-chain observers [3]. - This incident follows the passage of the Genius Act, the first US stablecoin law, prompting questions about its effectiveness in preventing such errors [4]. Group 2: Technical Issues - Analysts identified that the smart contract for PYUSD allowed a single wallet unlimited minting rights, lacking rate limits and multi-signature protections [4]. - Previous incidents of similar nature include Tether's accidental minting of $5 billion and Croup's erroneous transaction of $81 trillion [4]. Group 3: Market Impact - Following the incident, PYUSD briefly lost its dollar peg, leading to a major crypto lending platform freezing all PYUSD activities as a precaution [5]. - The overall cryptocurrency market experienced a sell-off, although Paxos confirmed that no customer funds were affected [5]. - New York's financial regulator is reviewing the incident and is in contact with both Paxos and PayPal, while PayPal's shares have seen a 5% decline since last week [5].

Core Insights - PayPal (PYPL) stock has decreased by 12.8% over the past 5 trading days, and historical data suggests it struggles to recover within a year after significant drops [2][3] - The company operates a technology platform facilitating digital payments in approximately 200 markets and 100 currencies globally [4] - PayPal is valued at $64 billion with $32 billion in revenue, currently trading at $66.05, and has shown a revenue growth of 4.1% over the last 12 months [5] Financial Metrics - Operating margin stands at 19.1%, with a Debt to Equity ratio of 0.18 and a Cash to Assets ratio of 0.13 [5] - The stock is trading at a P/E multiple of 13.7 and a P/EBIT multiple of 10.2 [5] - The stock has experienced a median return of -33.8% within a year after sharp declines since 2010 [5] Historical Performance - PYPL stock has dropped 83.7% from a peak of $308.53 on July 23, 2021, to $50.39 on October 27, 2023, compared to a peak-to-trough decline of 25.4% for the S&P 500 [6] - The highest price reached since the decline was $91.81 on January 20, 2025, with the current trading price at $66.05 [6] - Previous declines include a 31.2% drop from $123.91 on February 19, 2020, to $85.26 on March 23, 2020, with a full recovery by May 5, 2020 [8]

Core Insights - Major mobile payment services PayPal and Venmo, along with YouTube, experienced significant outages within a 24-hour period, affecting tens of thousands of users globally [1][3][7] - PayPal described the outage as a "brief service disruption" that has since been resolved [3] - YouTube reported over 800,000 users faced issues with video playback, which was later resolved [7][9] PayPal and Venmo - The outages for PayPal and Venmo began around 11 a.m. on Thursday, with widespread reports of issues by noon [1] - As of 3 p.m., the service disruption appeared to be resolved [1] - PayPal's stock price was reported at $66.05, reflecting a decrease of 2.84% [4] YouTube - YouTube confirmed users were unable to play videos on Wednesday night, with issues reported by over 800,000 users within an hour [7] - The platform later announced that the issue was fixed, allowing users to access videos again [9] - No explanation was provided for the outages affecting both YouTube and the payment services [5][9]

Core Insights - PayPal Holdings, Inc. (NASDAQ:PYPL) is recommended as a stock to buy by billionaire Ray Dalio's Bridgewater Associates [1] - On October 7, PayPal launched PayPal Ads Manager, a platform designed for small businesses to display targeted ads on their websites and apps, allowing them to earn ad revenue from store traffic [1][2] - The Ads Manager platform is free for merchants, requiring no upfront costs or minimum commitments [1][2] Product Features - Small businesses can quickly integrate PayPal's SDK into their websites and select their advertising preferences [2] - The Ads Manager utilizes PayPal's purchase data and AI-driven tools to match ads with high-intent shoppers [2] - Ad performance can be managed through the familiar PayPal Merchant Portal, with ad revenue deposited directly into PayPal merchant accounts for operational use [2] Market Expansion - The service is set to roll out in the US in early 2026, with plans for expansion into the United Kingdom and Germany [3] - PayPal operates a technology platform that facilitates payments across nearly 200 markets and in over 100 currencies, with core services including PayPal, Venmo, Braintree, and Xoom [3]

Core Viewpoint - The Coca-Cola Company has elected Max Levchin, co-founder of PayPal and founder of Affirm, as a director [1] Group 1: Background of Max Levchin - Max Levchin, aged 50, is recognized as a seasoned technologist and entrepreneur [1] - He co-founded Confinity in 1998, which later became PayPal, where he served as chief technology officer [1] - Levchin remained with PayPal until its acquisition by eBay in 2002 [1] Group 2: Career Highlights - After PayPal, Levchin launched several ventures, including Slide, a personal media company [1]

Core Viewpoint - The stock price of PayPal (NASDAQ: PYPL) appreciated by 1%, but it has significantly underperformed the benchmark, yet the bullish thesis remains unchanged [1] Company Performance - Despite the stock price performance, the company is believed to have experienced favorable tailwinds [1] Analyst Background - The analyst has over 10 years of experience in asset management, specializing in equity analysis, macroeconomics, and risk-managed portfolio construction [1] - The analyst has a professional background in both institutional and private client asset management, focusing on equities and derivatives [1] Investment Philosophy - The goal of writing on Seeking Alpha is to share insights, exchange ideas, and promote confidence in long-term investing [1]

ToplinePayPal and its mobile-payment app Venmo were down for thousands of users on Thursday morning, according to user reports on Downdetector, which described errors logging in to and using the app.Users reported issues logging in to the popular mobile payment app.SOPA Images/LightRocket via Getty Images ...

Venmo And PayPal Are Down For Some, According To Monitorhttps://t.co/nc67AQUY3U https://t.co/AcXzlwjdY2 ...

以下文章来源于科创日报 ，作者史正丞 科创日报 . 科创圈都在关注的主流媒体，上海报业集团主管主办，《科创板日报》出品。 一笔凭空出现、又在短时间内消失的300万亿美元稳定币，又一次展现加密产业的荒蛮暗面。 据以太坊区块链观察工具Etherscan的记录显示， 北京时间周四凌晨3时许，知名交易平台PayPal的加密产业合作伙伴Paxos在以太坊区块 链上铸造了300万亿个PayPal稳定币PYUSD ，纸面价值对应300万亿美元。 （来源：Etherscan） 这起错误交易的金额也令其他"乌龙指"事件相形见绌。要知道 美国国债规模只有37万亿美元 ，全球所有国家的GDP之和，也不到300万亿 美元的一半。CoinMarketCap数据显示，作为全球第六大稳定币，PYUSD的市值规模只有26亿美元。 Paxos随后发布公告称， 这起事件是公司在进行内部转账时错误铸造了超额的PYUSD 。事发后，公司在第一时间发现错误，并销毁了超额 部分。Paxos强调，此次事件属于内部技术故障，不存在安全漏洞，客户资金也安全无虞。 该事件短暂地扰乱了去中心化金融市场，PYUSD价格短暂脱锚1美元基准，后续随着超发稳定币被销毁迅 ...