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Podcast: CoinDesk Podcast Network
Episode: Paxos Accidentally Minted $300T of PayPal's Stablecoin | CoinDesk Daily
Description: Paxos mistakenly minted $300 trillion of PYUSD on Ethereum.
Stablecoin issuer Paxos accidentally minted $300 trillion worth of PayPal's PYUSD stablecoin, far exceeding the total U.S. dollar supply. Paxos emphasized that it was not a security breach but the incident raised concerns about how an enormous amount of stablecoin could be created without requisite collateral. CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily."
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