Mantra OM token crash exposes ‘critical’ liquidity issues in crypto

OM recently dropped from over $6 to less than $0.45 in a matter of hours without any sudden catalyst.

Mantra CEO says team is finalizing burn program details, buyback is well underway

The post Mantra CEO says team is finalizing burn program details, buyback is well underway appeared on BitcoinEthereumNews.com. Key Takeaways Mantra is finalizing a token burn program for the OM token. OM token has faced significant price decline due to large liquidations. John Patrick Mullin, Mantra’s co-founder and CEO, has stated that the team is finalizing its token burn program and actively working on a buyback plan. Both efforts come in th…

The dropout who dared: How Strike is rewiring global money

This is a segment from the Supply Shock newsletter. To read full editions, subscribe. Rizzo, the Bitcoin Historian here, back this week with the story of one of the younger Bitcoin legends — I’m talking about the one, the only Jack Mallers.  If you’ve seen Jack in any of the dozens of interviews he’s given from his large, empty closet, you know he’s an eloquent defender of Bitcoin. You may not know his long road to becoming a successful entrepre…

This Week in Crypto: $5B Wipeout for Mantra, ZKsync Attack, and Trump's Fed Fury

Mantra token plummets 90% in sudden crash MANTRA (OM) quotes dropped from around $6.30 to below $0.50, erasing more than $5.7 billion in market capitalization. After a brief rebound, the token is trading near $0.64, with its market cap now reduced to $623 million. The price of the OM token saw a precipitous crash on April 13. “Team needs to address this or $OM looks like it could head to zero. Biggest rug pull since LUNA/FTX??,” wrote a user und…

Deep Analysis: What Triggered The OM Sell-Off

The latest OM crash has caused confusion in the community. In a sequence of sudden sell-offs, $5.5 billion was wiped out. Several reports say the incident happened because one trader tried to control prices on two different exchanges. This complete situation indicates the weakness in various crypto projects. Even though it seemed to have a large market value, a small amount of available money caused the whole thing to crash. Analysing the OM col…

Crucial Crossroads for Mantra DAO: Community to Decide Fate of CEO's OM Tokens

In a fascinating turn of events in the crypto world, John Patrick Mullin, the CEO of Mantra DAO, has placed a significant decision directly into the hands of the community. Mullin, known for his transparent approach, is seeking input on what to do with his substantial allocation of 772,081 team-allocated OM tokens, currently staked on Fluxtra. This move highlights the growing importance of community governance in decentralized projects and sets …