Stablecoin issuer Paxos minted and burned $300 trillion worth of PayPal USD stablecoin in 30 minutes, causing confusion among crypto users. Aave temporarily froze PYUSD trades after the unexpected transaction. Paxos stated it was an internal error with no security breach, and customer funds are safe. The amount is more than double the GDP of all countries combined. Further updates on this developing story will be provided.

Read more at Cointelegraph: Aave Freezes PYUSD Markets after Unprecedented 300T Mint and Burn