according to Decrypt, Paxos CEO Charles Cascarilla said at the Federal Reserve's cryptocurrency roundtable on Wednesday that the company accidentally minted $30 trillion worth of PayPal stablecoin (PYUSD) last week due to an "internal technical error" and destroyed it all within 24 minutes. This amount exceeds twice the global GDP. Cascarilla attempted to redefine this event as a demonstration of the transparency advantages of blockchain, stating "This actually demonstrates the transparency that blockchain can immediately provide."
