In an sudden and virtually surreal incident, Paxos, the issuer behind PayPal’s PYUSD stablecoin, mistakenly minted 300 trillion PYUSD — sure, with a “T” — earlier in the present day after including six additional zeros to the supposed transaction. The blunder was swiftly corrected as Paxos burned the surplus tokens and reissued the correct quantity…
Stablecoin issuer Paxos revealed that it erroneously minted $300 trillion price of PayPal’s PYUSD stablecoin on Wednesday, solely to reverse the error minutes later by burning the surplus tokens. Blockchain records visible on Etherscan confirmed the flurry of minting and burning transactions, exposing a uncommon however dramatic “fat-finger” error within the reportedly tightly managed world…
Paxos Labs has launched a revamped proposal to issue Hyperliquid’s forthcoming USDH stablecoin, placing ahead a world technique that features a main integration with PayPal. Key Takeaways: Paxos plans to combine USDH with PayPal and Venmo, enabling seamless funds and zero-cost on/off-ramps. All income from USDH will probably be reinvested till $1B TVL, with Paxos…