A $300 Trillion Oopsie

Tech Brew Ride Home

Amalgamated Internets, LLC

Tech News, Technology, News

4.7 • 1K Ratings

🗓️ 16 October 2025

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

So, a huge, huge, like bigger than the entire world’s GDP fat finger episode in the world of stablecoins. Zuck has poached another one from Apple. Potentially huge state sponsored hack of a key infrastructure company. The most interesting new phone concept I’ve seen in a while. And are we in an AI bubble episode 72. Printing Money: Paxos Mints, Then Burns $300 Trillion in PayPal Stablecoins (Decrypt) Apple’s Head of ChatGPT-Like AI Search Effort to Leave for Meta (Bloomberg) F5 says hackers stole undisclosed BIG-IP flaws, source code (BleepingComputer) Anthropic launches new version of scaled-down ‘Haiku’ model (TechCrunch) Honor’s Robot Phone concept features a fold-out camera arm (The Verge) ‘Of course it’s a bubble’: AI start-up valuations soar in investor frenzy (FT) Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:34.1	Welcome to the TechBrew Ride Home for Thursday, October 16th, 2025. I'm Brian McCullough today. A huge,
0:39.7	huge, like bigger than the entire world's GDP fat finger episode in the world of stable coins.
0:45.7	Zuck has poached another one from Apple, potentially huge state-sponsored hack of a key infrastructure company,
0:51.4	the most interesting new phone concept I've seen in a while, and are we
0:55.1	in an AI bubble episode number 72? Here's what you miss today in the world of tech.
1:03.5	Oopsie. Paxos says it mistakenly minted $300 trillion worth of PayPal's Pi-USD stablecoin on October 15th on
1:15.1	the Ethereum blockchain and then burned the tokens around 20 minutes later.
1:20.4	Quoting to Crypt.
1:21.6	Crypto industry observers were baffled Wednesday afternoon when an on-chain transaction
1:25.5	showed that Paxos, the issuer behind the PayPal
1:28.0	branded Pi-USD stablecoin, minted $300 trillion worth of the tokens on the Ethereum blockchain.
1:35.7	A little over 20 minutes later, all 300 trillion Pi-USD tokens were burned or effectively destroyed
1:40.5	by sending them to an inaccessible network address.
	...

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