NYDFS Probes Paxos After $300 Trillion Minting Blunder
The New York Department of Financial Services (NYDFS) has confirmed it is investigating Paxos, the issuer of PayPal USD (PYUSD), following a catastrophic minting error that temporarily created $300 trillion worth of unbacked stablecoins. The incident, which occurred on 15 October 2025, is being described as one of the most
