PayPal Accidentally Created $300 Trillion in Crypto, Then Immediately Deleted It

Whoops.

By Braden Bjella

Published 1 month ago in Wow

Yesterday, PayPal briefly became the richest company on Earth. That’s because Paxos, which issues PayPal’s USD-backed cryptocurrency stablecoin, accidentally minted $300 trillion worth of the coin.


For those keeping track at home, that’s more than twice the global GDP.


Paxos quickly realized their error and “burned” the coins, assuring customers that none entered circulation and that the stablecoin, which they say is backed 1-to-1 with the U.S. dollar, is unaffected.


Still, it’s pretty crazy that a company can just produce hundreds of trillions of dollars with a misclick. Why can’t my bank do that into my account?!

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