Paxos Mistakenly Mints $300t Pyusd on Ethereum, Citing Tech Error
Posted3 months agoActive3 months ago
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Paxos mistakenly minted $300 trillion PYUSD on Ethereum due to a tech error, sparking concerns about the stability and reliability of the stablecoin.
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Why is there even a market for trading between asset-backed stable coins and USD? Shouldn't issuer always buy it back for nominal price?
A few trusted parties is enough to maintain the peg through arbitrage