PayPal's Crypto Partner Mints $300 Trillion Worth of Stablecoins in 'Technical Error'

[GreatGazoo]

Yet there is still "no money for health, education, housing or social security" ?

Paxos, the blockchain partner of PayPal, mistakenly minted $300 trillion worth of the online payment giant’s stablecoin on Wednesday in what the company called a “technical error.”
...
PYUSD is advertised as a dollar-pegged stablecoin that is fully backed by U.S. dollar deposits, U.S. treasuries and similar cash equivalents. Therefore, PayPal says the tokens are always redeemable for U.S. dollars on a 1:1 basis.
...
There aren’t enough dollars in global circulation to back $300 trillion PYUSD, which would theoretically require more than double the world’s estimated total GDP.

https://www.cnbc.com/2025/10/16/paypals-crypto-partner-mints-300-trillion-stablecoins-in-technical-error.html

[enough]

1. This is the way the world ends.

[The Madcap]

2. Too many Dutch tulips.

300 trillion "nothings"

[Baitball Blogger]

3. So...in a world of accountability, this would mean bankruptcy for Paypal.

[Rastapopoulos]

4. Whew, that's a relief

I have part of my vast financial fortune ($5.00) on deposit at PayPal.

[muriel_volestrangler]

5. And for those 20 minutes, did anyone gain from this "technical error"?

There seems nothing in the article to indicate if someone did or not. And if someone gained, did anyone other than the incompetent Paxos and PayPal companies lose?

[Amishman]

8. My understanding is they weren't transferred or used

There is proof they existed, as that information is captured in the block chain.

The best analogy would be a bank error showing an impossibly large amount in one account, someone taking a picture of their inflated balance, and the bank fixing the problem 20 minutes later.

It's embarrassing but not a big deal.

[ProfessorGAC]

6. $300 Trillion Is A Bit More...

...than the total capital value of the United States.
Combine Canada & Mexico & we'd get about $300 trillion.
Kind of puts am exclamation point on the notion that cryptocurrency is "funny money".
They accidentally generated an amount of currency in one day equal to everything of tangible value in North America.

[dalton99a]

7. Kick