Tag: Stablecoin Industry

  • Paxos’ $300 Trillion Blunder Puts Stablecoin Industry Under Scrutiny

    Paxos’ $300 Trillion Blunder Puts Stablecoin Industry Under Scrutiny

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    by

    Yashika Gupta

    The New York Department of Financial Services (NYDFS) has confirmed that Paxos, the regulated issuer behind PayPal USD (PYUSD), accidentally minted an eye-watering $300 trillion worth of unbacked stablecoins on 15 October 2025.The incident, which briefly expanded PYUSD’s supply to exceed the size of the global economy, sent shockwaves through both traditional finance and the…