Why error Is Trending Today?

Paxos, a major stablecoin issuer, accidentally minted and then burned $300 trillion worth of PayPal's stablecoin, an amount equivalent to double the world's total GDP. This significant error, described as an "internal technical error" by Paxos, has sparked debate about the risks associated with stablecoins and raised concerns about the integrity of PayPal's new stablecoin system. Despite the incident, Paxos has confirmed there was no security breach. Meanwhile, Bitcoin has been experiencing a price drop, falling below $108,000, as miners moved a substantial amount of BTC, further adding to market uncertainty.