According to Golden Finance, Paxos officially released the transparency report of the stablecoin PYUSD in February 2025, disclosing unaudited data related to PYUSD, including: Total Tokens Outstanding, a sharp increase from approximately US$480 million in January, rising to US$751,638,595; the current market value of collateral among the total net assets is US$770,113,333, and the nominal position is US$755,514,232. Paxos said that the current PYUSD token is over-collateralized, so the risk of loss is not high. Even if Paxos defaults, it can use over-collateralized US Treasury bonds to make up for the losses.