Mantra says one particular exchange may have caused OM collapse

April 14, 2025

, By Cointelegraph

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The team behind real-world tokenized asset blockchain Mantra says its native token’s sudden 90% plunge was caused by exchanges forcibly closing positions without notice, with one currently unnamed exchange potentially to blame.

On April 13, Mantra (OM) price dropped from $6.30 to below $0.50, rapidly shedding over 90% of its $6 billion market cap.

“We have determined that the OM market movements were triggered by reckless forced closures initiated by centralized exchanges on OM account holders,” Mantra co-founder John Mullin wrote in an April…

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Mantra says one particular exchange may have caused OM collapse

April 14, 2025

, By Cointelegraph

The team behind real-world tokenized asset blockchain Mantra says its native token’s sudden 90% plunge was caused by exchanges forcibly closing positions without notice, with one currently unnamed exchange potentially to blame.

On April 13, Mantra (OM) price dropped from $6.30 to below $0.50, rapidly shedding over 90% of its $6 billion market cap.

“We have determined that the OM market movements were triggered by reckless forced closures initiated by centralized exchanges on OM account holders,” Mantra co-founder John Mullin wrote in an April…

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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