Paxos mistakenly mints $300 trillion of PayPal stablecoin

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According to data compiled by Electric Capital and analyzed by the Ethereum Foundation, Ethereum ranks as the top ecosystem for new developer talent in 2025. The Ethereum ecosystem added 16,181 new developers, ranking first among all blockchains, followed by Solana (11,534) and Bitcoin (7,494). In terms of total active developers, Ethereum still leads with 31,869, followed by Solana (17,708), Bitcoin (11,036), and then Polygon, Sui, BNB Chain, and Polkadot. Read more →

Stablecoin issuer Paxos in a statement said it mistakenly minted $300 trillion (yes with a ‘T’) of PayPal Holdings PYUSD stablecoin yesterday before burning the tokens minutes later. For context the entire crypto market is valued at about $3.8 trillion. While this isn’t the first time something like this has happened… For example, Tether mistakenly minted and burned $5 billion in USDT in 2019. But, nothing at this scale has ever occurred. Read more →

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