Mantra's OM coin has seen significant concerns, with the cryptocurrency's price dipping by 90%. Allegations of fraudulent activities sparked by this sudden price plunge are muddying the waters further. Concurrently, Mantra’s founder has announced a plan to burn $80M of his tokens in an effort to stabilize the situation. This comes on the heels of serious scandals involving both Mantra and Movement Labs that seems to have shaken the crypto market. Despite these endeavours, Mantra's token is still struggling as the trust in the coin wanes following the April crash. The company has announced a $25m token buyback programme, and insiders have denied any claims of dumping the tokens.
Elsewhere in the world of finance, the
U.S. Treasury is defending its plan to mint a $1 coin with President Trump's image, contradicting a federal law that says only the deceased can appear on U.S. currency.
There has also been legislative progress in the U.S., with the
GENIUS Act of 2025 being adopted, which is key stablecoin legislation. Coinbase further warns that betting on a market correction is equivalent to a coin toss, amidst the
volatile cryptocurrency market.
OM Coin News Analytics from Wed, 24 Aug 2022 15:03:43 GMT to Thu, 19 Feb 2026 23:39:40 GMT -
Rating -8
- Innovation -5
- Information 3
- Rumor -4
