Mantra OM News: Founder to Burn $80M of Own Tokens Following 90% Price Drop

Mantra OM News: Founder to Burn $80M of Own Tokens Following 90% Price Drop

The tokens are part of John Mullin's team allocation that were staked when the network first started in October 2024.

Mantra's CEO begins burning $80M worth of his OM tokens and plans to burn $80M worth from partners, after a 90% collapse on April 13 erased $5B+ in market value (Shaurya Malwa/CoinDesk) – Monkey Viral

Shaurya Malwa / CoinDesk: Mantra’s CEO begins burning $80M worth of his OM tokens and plans to burn $80M worth from partners, after a 90% collapse on April 13 erased $5B+ in market value  —  The tokens are part of John Mullin’s team allocation that were staked when the network first started in October 2024.  […]

Mantra Founder Is Burning 150 Million Tokens. Would He Try To Get Them Returned?

The idea of burned tokens returning to circulation used to be a frivolous question. Then Crypto.com brought 70 billion CRO back to life.  Mantra’s OM token lost more than 90% of its value on April 13 (Shutterstock) Posted April 22, 2025 at 6:10 pm EST. Mantra founder and CEO John Patrick Mullin is working hard to try and win back the faith and confidence of the Mantra community after the OM tokens suddenly dropped 91.7% in a single day on Ap…

Mantra Token's 90% Crash Shows the Inherent Risk Side of Cryptos

A cryptocurrency initiative named Mantra, claiming to be a blockchain facilitating the exchange of "real-world assets," experienced a staggering 90% decline in the value of its token OM within just a few hours last week, resulting in a loss exceeding $5 billion.While traders continue to analyze the factors behind the token's drop to 50 cents, those with experience in the cryptocurrency sector recognize that the design of OM's token raised signif…

Unpacking Mantra’s OM crash requires forensic study — CertiK exec

Mantra founder and CEO John Mullin has begun an $80 million burn of OM tokens to regain users’ trust following the token’s crash earlier in April. However, the question of the underlying reasons for the crash remains unanswered, blockchain investigators told Cointelegraph.Unpacking Mantra’s OM crash would require a detailed forensic study rather than just basic blockchain analysis, said Natalie Newson, senior blockchain investigator at the block…

MANTRA CEO Burns $82M In OM Tokens To Rebuild Trust After $5B Crash

CEO Mullin to burn 150 million OM tokens worth $82M to restore trust. MANTRA token burn to reduce OM supply by 8.5%. Token burn aims to stabilize the OM price and increase staking APR. MANTRA CEO announced plans to burn 300 million OM tokens to stabilize market price after the recent massive price crash. OM token prices experienced over 90% decline on April 13 which eliminated more than $5 billion in market capitalization. CEO John Patrick Mulli…