According to the source, there is a circulating claim that Paxos executed unusually large mint-and-burn activity in PYUSD (PayPal USD), which requires direct on-chain verification before any trading action (source: Ethereum block explorer data). Traders should confirm PYUSD total and circulating supply, token mint/burn logs, and top holder movements on the official PYUSD ERC-20 token page to validate or refute the claim (source: Etherscan PYUSD token tracker). Cross-check any observed on-chain supply changes against Paxos monthly attestations and transparency reports to reconcile balances and identify operational tests versus production issuance (source: Paxos Transparency and Withum attestations). Monitor the PYUSD/USD peg, order book depth, and slippage in major centralized venues and stablecoin DEX pools to detect dislocations that could affect liquidity and spreads (source: exchange order books and Curve/Uniswap analytics). Review Paxos issuance and redemption policies to assess convertibility and potential peg risk pathways under stress, and verify any official notices regarding extraordinary mint/burn events (source: Paxos user terms and PayPal product announcements).