Mantra's OM coin, a digital asset listed on Coinbase, has experienced a significant decrease in value, with its price dropping by 90%. This collapse was linked to certain actions by the founder, who decided to
destroy $80M of his own OM tokens following the price drop. Despite the steep plunge, some consider OM Coin to regain its momentum, backed by the founder's commitment to a comprehensive burn program and a $25M buyback scheme. However, accusations of
fraud have surfaced amidst the crash, shaking investor confidence. OM's severe decline has drawn comparisons with other cryptocurrency crashes, causing widespread apprehensions and speculation in the crypto market.
Nonetheless, the Mantra team is striving to reinforce stability in the wake of the crash, initiating a 300M OM crypto burn and announcing plans for token buybacks, stablecoin, and Real World Asset (RWA) tokenization. Yet, despite these recovery efforts,
trust in OM Coin is wavering, and its struggles to bounce back have led to persisting doubts about its future performance. The Mantra's CEO stoutly rejected accusations of insider selling and outlined a recovery plan for the token in the aftermath of its 90% drop. Fully aware of the reputational damage and loss of confidence, the Mantra CEO has pledged to restore investor trust following the OM collapse.
Amidst this turmoil, notable developments are happening in the crypto market. Cryptocurrency
transactions are becoming tokenized cash, a shift that many see as enabling next-generation payments.
OM Coin News Analytics from Mon, 22 Aug 2022 19:33:09 GMT to Fri, 26 Dec 2025 14:04:04 GMT -
Rating -5
- Innovation 1
- Information 3
- Rumor -2
