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this post was submitted on 12 Oct 2025
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TechTakes
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Big brain tech dude got yet another clueless take over at HackerNews etc? Here's the place to vent. Orange site, VC foolishness, all welcome.
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Somehow I missed the fact that yesterday paypal’s blockchain operator fucked up and accidentally minted 300 trillion itchy and scratchy coins.
https://www.web3isgoinggreat.com/?id=paxos-accidental-mint
And now apparently it turns out that it was just a sequence of stupid whereby they accidentally deleted 300 million, which would have been impressive all by itself, then tried to recreate it (🎶 but at least it isn’t fiat currency🎶) and got the order of magnitude catastrophically wrong and had to delete that before finally undoing their original mistake. Future of finance right here, folks.
Anyone else know the grisly details? The place I heard it from is a mostly-private account on mastodon which isn’t really shareable here, and they didn’t say where they’d heard it.
I'm apparently quoted in one of the expensive low circulation finance newsletters (Grant's Interest Rate Observer) today or tomorrow saying how even the relatively competent crypto firms are also run by clowns.
some more speculation here
https://protos.com/paxos-300-trillion-fat-finger-raises-concerns-over-pyusd-integrity/