Mantra has had a tumultuous journey, with several reports of significant setbacks. Less than a year after the
OM token plunged 90%, the company cut staff. The OM token remains 99% below its peak, even after restructuring and layoffs. On the legal front, the company is battling multiple litigations. Despite the challenges, it managed to secure an additional $25,000,000 for strategic OM token buybacks. The company has blamed the drastic drop on reckless liquidations triggered by exchange mishaps.
The issue ran deeper than just a price drop: allegations of fraud began to circulate, raising concerns about the potential collapse of the Mantra cryptocurrency. These concerns were slightly mitigated when
founder JP Mullin pledged to burn $80M of his own tokens following the 90% price drop. This action was a part of Mantra's attempts to regain investor trust, with the company extending the timeline for a MANTRA coin upgrade and proposing the burn of 300 million team tokens. The migration of the OM token is anticipated to have impact on the MANTRA's ecosystem.
Allegations of market manipulation have been refuted by Mantra investors despite claims of token dumping ahead of the crash. While many have expressed concerns, others still find reasons to invest in the OM coin, arguing for its purchase. Despite the turmoil, the
Binance will support the MANTRA network upgrade. The recovery plan for the OM token post-collapse was outlined by the Mantra CEO, who denied any insider selling.
MANTRA Token News Analytics from Sun, 13 Apr 2025 07:00:00 GMT to Fri, 16 Jan 2026 08:00:00 GMT -
Rating -8
- Innovation -7
- Information 2
- Rumor -3
