For PayPal Stablecoin Partner, $300T Error Is More Minor Mishap Than Real Risk

Crypto watchers got another taste of just how different digital and traditional finance are last week when stablecoin issuer Paxos accidentally minted $300 trillion of PayPal’s PYUSD stablecoin before detecting the error and destroying the funds. That all happened within just 30 minutes, and yes, the word trillion is correct. For perspective, $300 trillion is almost three times the world’s total estimated GDP. “This was an internal technical error. There is no security breach. Customer funds are safe,” P ...