TechFlame reports that on October 23, according to Decrypt, Paxos CEO Charles Cascarilla stated at the Federal Reserve cryptocurrency roundtable on Wednesday that the company accidentally minted $300 trillion worth of PayPal's stablecoin (PYUSD) last week due to an "internal technical error" and burned all of it within 24 minutes. This amount is more than twice the global GDP. Cascarilla attempted to reframe the incident as a demonstration of blockchain's transparency advantage, saying, "This actually showcases the immediate transparency that blockchain can provide."