Even in 2025, some aspects of cryptocurrency seem rather risky, despite assurances that certain coins are fully backed, stable, and secure. A hair-raising case in point hitting the newswires today is provided by PayPal’s crypto partner Paxos, which accidentally minted $300 trillion PYUSD a few hours ago. This so-called ‘stablecoin’ is said to be “fully backed by US dollar deposits, US treasuries, and similar cash equivalents.” Despite that pledge, there is no way that such a gargantuan sum was backed by anyone or anything, as it is roughly equivalent to “more than double the world’s estimated total GDP,” reports CNBC.
