Mantra's OM Coin experienced a dramatic 90% price drop, sparking allegations of fraud and manipulation. The team blamed the collapse on exchanges, claiming forced liquidation happened too fast.
Amidst the turmoil, the Mantra founder committed to burning $80 million of their own tokens in an attempt to stabilize the situation. Despite this, the question of whether OM Coin can regain its footing remains in the air. A sharp recovery saw the coin price jump 60%, but liquidity and insider dumping concerns continue to plague the asset. In an unexpected turn of events, the Treasury Department is mulling over the idea of minting a $1 Trump coin for the United States’ 250th Independence anniversary, causing a stir in the cryptocurrency market. Coinbase and Zerodha move on from the controversies. Zerodha aims to introduce Fixed Deposit funds in the Coin app, while Coinbase takes on would-be extortionists. The
Mantra team also unveiled a comprehensive Burn program, attempting to salvage the OM coin.On another note, the dominance of meme coins was questioned. Their exact nature, value, and investment potential are debated. Allegations arose about billionaire Donald Trump and his sons' involvement in a yet-to-launch cryptocurrency firm now valued at $5 billion. The potential for a coin featuring Trump's face is increasing despite a law that prohibits similar likenesses. Crypto exchanges rushed to list the Trump coin, seeing it as a potential gold-mine.
Lastly, cryptocurrency market-making has had a rough time with OM and MOVE token scandals shaking up the scenario.
OM Coin News Analytics from Mon, 22 Aug 2022 19:33:09 GMT to Wed, 29 Oct 2025 03:06:33 GMT -
Rating -7
- Innovation 3
- Information -2
- Rumor -5
