Stablecoin issuer Paxos has reportedly minted $300 trillion worth of PYUSD by mistake. The error, which significantly exceeds the total market cap of all cryptocurrencies, was quickly identified and rectified by the company. Paxos has assured users that the incident did not impact the stability or security of its stablecoin operations.
In other news, Ripple CEO Brad Garlinghouse has criticized Wall Street lobbyists for their influence over the Federal Reserve's Master Account policies. Garlinghouse's comments highlight ongoing tensions between traditional financial institutions and the cryptocurrency sector.
Meanwhile, Coinbase has announced the addition of Binance Coin (BNB) to its listing roadmap, signaling potential future support for the cryptocurrency on its platform. This move is part of Coinbase's strategy to expand its offerings and attract a broader user base.
Paxos Mistakenly Mints $300 Trillion in PYUSD
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