CoinDesk Podcast Network COINDESK DAILY: Mantra's $OM Erases Over $5B Within Hours
Apr 14, 2025
A dramatic market crash has left investors shocked as Mantra's OM token plummets, wiping out over $5 billion in mere hours. Meanwhile, Bitcoin stays resilient against the chaos. The discussion also pivots to Jack Dorsey and Elon Musk’s controversial stance on deleting all IP law. Additionally, Ethereum founder Vitalik Buterin suggests crucial improvements for privacy in the crypto space. This episode offers insights into the intertwining issues of crypto volatility and intellectual property.
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Mantra OM Token $5B Crash
- Mantra's OM token crashed 90% in one hour, wiping over $5 billion in market cap and sparking insider selling rumors.
- The team denies wrongdoing, blaming exchange liquidations during low liquidity causing shaken investor trust.
Investor Devastation and Backlash
- Investors publicly express devastation on social media, with one losing over $3.5 million.
- Critics accuse Mantra and Binance of liquidity exit and threaten legal action, while Mantra's Telegram closes to new users.
Mantra's Real-World Asset Tokenization
- Mantra enables tokenization of real-world assets like real estate to facilitate compliant digital investments.
- The OM token is integral for transactions and governance, linking digital tokens directly to tangible assets.