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- š„ The $300 TRILLION mint that blew the lid off stables
š„ The $300 TRILLION mint that blew the lid off stables
+ Ambire BUYS BACK 10.7% of supply š¤Æ

GM, frens! āļø
Crypto always looks like itās reinventing itself - new metas, trends new narratives, new hyped coins every other week. But if youāve been here long enough, you start to notice the pattern beneath all this.
The chaos is the constant. This is what stability looks like š§
Hereās what weāve been watching this week:
š°The 300 trillion dollar mint that blew the lid off stables
š Ambire buys back 10.7% of supply
š Uptober RESUMED? The market that refuses to stay downš ļø Ethereum keeps cooking: 16 000 new builders joined in a single year
The W3oF Degen Portfolio reflected that perfectly - quiet on the surface, steady underneath.

Come hang in the Discord - the metas are temporary, but frens are forever š

The 300 trillion dollar mint that blew the lid off stables
Stablecoins live permanently under suspicion. Every other time thereās another āaudit leakā, a shadowy wallet, a rumor about missing collateral - but by now, everyone learned to ignore itš„ø
The FUD has lost its bite. Tether keeps printing, USDC keeps lobbying, and many other giants slowly join the rotation, promising to be the āresponsibleā face of onchain dollars.
This week though, Paxos went full goblin mode šļø
šØ $PYUSD $300 Trillion Mint šØ
. @Paxos stablecoin contract accidentally minted $300 TRILLION on-chain, burned it, then minted another $300 billion. All controlled by a single EOA.
We studied the incident in-depth so you don't have to. Here's what actually happened:
The
ā QuillAudits ā”ļø Web3 Security š„· (@QuillAudits_AI)
7:45 AM ⢠Oct 16, 2025
For a brief window in blockchain history, 300 trillion on chain dollars existed. Thatās merely double the GDP of the whole humble Planet Earth, created by a regulated entity in partnership with one of the largest payment firms š¤¦āāļø
It took 22 minutes for the mistake to be noticed and burned, but the number stuck around long enough to remind everyone how fragile ātrustā really is in digital money šµ
The response was clinical: technical error, internal transfer, no breach, funds safe. The usual phrasing that says everything and explains nothing.
But no one seemed bothered - not traders, not DeFi protocols, not even the regulators watching from their dashboards. The market barely blinked.
Itās as if collective disbelief has given way to something worse: numb acceptance š¤Ŗ
Some forensics on the the PYUSD token mint today. Its worse than I thought.
Looks like Paxos tried to transfer 300M PYUSD between wallets, but accidentally burned 300M instead.
So in order to undo their mistake, they tried to remint the 300M they burned back into the original
ā sam ramirez (@sram1337)
9:32 PM ⢠Oct 15, 2025
PYUSDās architecture uses six decimal places instead of eighteen, a tiny detail that turns a misplaced integer into a planetary event. Code executed as written, humans erred as usual, and the blockchain recorded it faithfully for eternity.
When Paxos claimed it had āaddressed the root causeā the line landed with the same gravity as an internās apology for spilling coffee on the server rack āļø

DeFi protocols like Aave reacted faster than any regulator, freezing PYUSD just in case.
That detail alone shouldāve been the headline: decentralized systems stepping in to protect centralized money š«
If not for that, liquidations wouldāve possibly followed, collateral wouldāve vaporized, and the dominoes couldāve reached far beyond PYUSD itself.
Hereās how it could have unraveled if Aave hadnāt paused PYUSD markets immediately:
- Collateral distortion: A sudden 300-trillion-token supply makes holders look over-collateralized, letting them borrow against phantom liquidity.
- Mass liquidations: When markets reprice PYUSD
ā idobn.eth (@idobn)
8:31 PM ⢠Oct 16, 2025
By the time the fat finger memes stopped, analysts were already connecting the dots. This wasnāt the first time: Binance has accidentally minted wrapped ETH, Tether has mis-issued billions, and Circle has brushed up against its own decimal ghosts.
Every time, the error gets patched, the statement is issued, and everyone moves on.
Itās not that the market doesnāt care, itās that itās learned to live with the absurdity š¤·āāļø

Ambire buys back 10.7% of supply
In a market where most tokens depend on promises, Ambire is using math.
The project confirmed that swap fees have already funded the buyback of 78 million $WALLET, equal to 10.7% of total supply š²
Live revenue cycling back to holders instead of endless reshuffling of treasuries.
Ambire Swap fees have funded buybacks of 78M $WALLET tokens from the market to date.
100% of revenue is used for buybacks.
Add buybacks.ambire.eth as a watch-only account in Ambire and track progress.
ā ambire.eth (@ambire)
10:29 AM ⢠Oct 16, 2025
All of it comes from actual use. Every swap on Ambireās smart wallet contributes to the pool thatās been steadily pulling $WALLET off the market.
Basically, an old school approach in a space that rarely rewards patience - growth through activity instead of empty marketing š§
The mechanism is simple but effective: all fees flow into buybacks, tracked openly through buybacks.ambire.eth, a watch only on-chain account anyone can verify šļø
Many were asking themselves: can a wallet actually have a viable token? The answer is.. yes, yes it can š§

Uptober RESUMED? The market that refuses to stay down
For a market thatās supposedly on the edge of collapse every six weeks, cryptoās got remarkable stamina š¤

The first half of October tried its best to kill the mood.
Billions in leveraged positions vanished in a single moment last weekend, which also became the largest liquidation event in cryptoās history šø
Covid crash: $1.2 Billion in liquidations
FTX crash: $1.6 Billion in liquidations
Today: $19.16 Billion in liquidations
This is Biggest liquidation event in history of crypto and almost 20x bigger than the Covid crash of March 2020.
ā Ash Crypto (@Ashcryptoreal)
12:10 AM ⢠Oct 11, 2025
Every other cycle, that wouldāve triggered years of fear cycles. This time, it barely lasted a couple of days.
By mid week, total market cap was back near $4 trillion. Bitcoin reclaimed $108K, then settled just below $111K. Altcoins stopped bleeding. Analysts, traders, even the permaskeptics agreed on one thing: this was just maintenance š§
After the largest liquidation in crypto history, I expected October to be deep in the red. Somehow, itās still holding on. Which honestly feels like a small miracle.
Letās get this out of the way: I donāt think weāre entering a bear market.
If I wanted to argue that, I could -
ā The Wolf Of All Streets (@scottmelker)
9:36 PM ⢠Oct 14, 2025
Too much leverage, too fast, degens got too greedy. A mechanical clean up. The kind of flush that forces everyone to step back, repricing whatās possible and whatās stupid. The very popular current meta of perp DEX and leverage trading didnāt help too š«„
But unlike the old crashes - the ones that carried names like FTX, 3AC, or Luna - this one didnāt come with a huge death spiral. The market stabilized. Funding rates normalized. Open interest cooled. New capital started dripping back in almost immediately š°ļø š°ļø
Volatility is the point
Near term volatility? Itās staying for the foreseeable future. š
But bearish conviction is surprisingly thin. Even after the wipeout, most analysts expect a positive end to the month š
And through it all - the political noise.
Every cycle, new headlines pretend to matter. Trade wars, rate cuts, new sanctions, elections, endless āsummitsā. Each one shakes the market for a few hours before fading into irrelevance. This month itās tariffs again, with U.S. and Chinese officials reportedly scheduling a meeting to ease tensions. Next month itāll be something else š¤¦āāļø
The world keeps arguing, and crypto keeps absorbing it - turning global instability into a kind of background radiation that fuels the next leg up.
Thatās been true for years. We panic, we fight, we derisk, and after the dust settles the chart ALWAYS points north š¢

The pattern that keep repeating
Every bear phase teaches the same lesson: nothing ends it - not regulation, not politics, not liquidations. The market just pauses, cleans up, and moves again.
The so-called āblack swansā are starting to look like routine weather. FTX collapsed, crypto survived. China banned mining, miners relocated. Leverage imploded, Uptober resumed ā±ļø
Year after year, itās the same story dressed in new headlines: the market corrects, everyone screams apocalypse, and six months later weāre higher than before.
So here we are again: the market flushed. Uptoberās back on schedule š«”

Ethereum keeps cooking: 16 000 new builders joined in a single year
There was a time when every few months someone claimed theyād built the next big chain. New logos, new hype, new āEthereum alternativesā. That BS doesnāt exist anymore - the devs stopped arguing and got back to work, most of them on the same chain they started from š«”
The data just made it official šļø
Over 16,000 new developers joined Ethereumās ecosystem in 2025, pushing the total above 31,800 active builders š ļø
2/ By a wide margin, developers new to crypto prefer the Ethereum ecosystem.
ā Ethereum Foundation (@ethereumfndn)
4:07 PM ⢠Oct 15, 2025
This monthās Fusaka testnet on Sepolia is part of that story š
The update expands Ethereumās capacity and introduces a new way for nodes to share data called PeerDAS. It means faster validation, lower costs, and more room for apps to scale without losing the networkās reliability šļø
Itās one more technical piece in a line that started years ago - The Merge, Dencun, now Fusaka - each one pushing the network further.
1/ Ethereum Fusaka Upgrade: Everything You Need to Know
Ethereum is gearing up for a major upgrade: Fusaka, set to go live on Dec 3, 2025.
Itās designed to make Ethereum faster, more scalable, and more data-efficient.
Hereās a breakdown of whatās coming š
ā Stader Labs (@staderlabs)
5:22 AM ⢠Oct 15, 2025
Thatās what Ethereum has become: the steady part of a volatile industry.
ā”ļø Can Ethereum be Fastest Blockchain Ecosystem in the World? New Upgrade Says Yes
Ethereum's upcoming Fusaka upgrade is set to make the network lighter, cheaper, and more efficient, potentially cementing its position as a leading blockchain ecosystem.
With a 33% increase in
ā TheBenefactor.Net (@thebenefactor_)
4:09 AM ⢠Oct 17, 2025
The momentum shows up everywhere. Rollups like Arbitrum, Base, and Optimism hold more than $52 billion combined.
Most new projects plug directly into Ethereumās infrastructure because itās easier, safer, and proven šØ
Developers build there because thatās where the liquidity is, where the audits have history, where things actually survive the cycle. And thereās more to come.

Other worthy reads
Thoughts on current state of affairs on CT, by Otto Suwen:
I've been here since late 2017 and let me tell you, morale has never been lower. I think everyone on CT has this imaginary clock ticking. We all expect the cycle to be over soon, and many have underperformed (even compared to 2020-2021). Couple that with the apocalyptic wipeout
ā Otto Suwen (@OttoSuwenNFT)
11:14 PM ⢠Oct 15, 2025
āHow to find all of an insiderās wallet addresses from their traces on Polymarket?ā by Marko
x.com/i/article/1978ā¦
ā Marko (@Marko_Poly)
12:33 AM ⢠Oct 15, 2025
āThe Binance Liquidity Collapse: What Really Happened Between 21:18 and 21:20 UTCā by Benson Sun:
x.com/i/article/1977ā¦
ā Benson Sun (@BensonTWN)
12:59 PM ⢠Oct 14, 2025

MEMES







That's all for now, frens.
We'll meet in a week! And remember, the market conditions are temporary, but our commitment to building a better Web3 is here to stay. Thanks for joining us, and we look forward to seeing you back next week. Cheers!
Yours, The š„ Team
Brought to you by Ambire: The Only Web3 Wallet That Youāll Need!