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⇓ Mantra Navigates through OM Token Crash Aftermath; CEO Initiates 150 Million Token Burn

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Mantra Navigates through OM Token Crash Aftermath; CEO Initiates 150 Million Token Burn

In a significant series of events, MANTRA's OM token saw a dramatic 90% crash, ranking as one of the biggest meltdowns in cryptocurrency history. The crash, which is allegedly linked to reckless exchange policies and potential insider selling, resulted in a shock wipeout nearing $5bn and sparked widespread conversations on the challenges in crypto market liquidity.

Mantra's CEO categorically denied allegations of insider token dumping, linking the crash to risky exchange policies. Confirming the commencement of his 150M OM tokens burning, the CEO clarified that Arkham's involvement had led to wallets being mislabeled. Amid the turmoil, he assured the primary focus remained the recovery of the OM token. Mantra subsequently proposed burning 300 Million team tokens aimed at rebuilding trust.

Nevertheless, the incident undeniably uncovered liquidity issues in the cryptocurrency market and served as a wake-up call for the sector. Analysts swiftly warned of a potential LUNA-level risk despite a 200% rebound after the price crash. Amid mounting criticism and dwindling trust, the CEO committed to a buyback program and further token burn to regain investor confidence. Several vital questions post-crash remained unanswered, underlining the inherent risks of such investment.

MANTRA Token News Analytics from Sun, 13 Apr 2025 07:00:00 GMT to Wed, 30 Apr 2025 16:13:11 GMT - Rating -8 - Innovation -5 - Information 4 - Rumor 0

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