A $300 Trillion Blunder That Shook Crypto Foundations
In the ever-volatile world of cryptocurrency, a misstep has led to a staggering revelation: Paxos, the issuer of PayPal USD (PYUSD), inadvertently inflated its market cap to an eye-popping $300 trillion. This astronomical figure dwarfs global GDP, raising critical alarms about the integrity, safety, and regulatory framework of digital assets. As the dust settles from this minting blunder, stakeholders across the decentralized finance (DeFi) sector are left grappling with the implications for trust and stability in the stablecoin space.
The Snapshot of a Mistake: How It Unfolded
At 7:12 PM UTC, a moment occurred that no one in crypto could foresee. Paxos minted an astounding 300 trillion PYUSD tokens, a miscalculation that was promptly…
