Mantra founder and CEO John Patrick Mullin has started unstaking 150 million of his Mantra (OM) tokens in preparation for sending them to a burn address in an attempt to restore the token's value by tightening supply. Mantra announced on April 21 that the unstaking process had begun, and would be completed by April 29, at which point Mullin's Mantra (OM) tokens will be sent to the burn address and permanently removed from circulating supply.

OM crashed after a $17M whale loss, but signs of recovery might emerge soon.

MANTRA founder and CEO John Patrick Mullin has initiated the burn of his full 150 million OM token allocation, following through on a commitment made last week to bolster transparency and rebuild trust within the community.

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OM price has reacted negatively to MANTRA's new token burn announcement. The team announced a token burn plan that will remove 150 million OM tokens from circulation forever.

TL;DR Mantra will burn 150 million OM tokens belonging to its founder on April 29, aiming to reduce supply and adjust staking rewards. The project is in talks with other ecosystem members to burn an additional 150 million tokens, though there's no confirmed date for this second phase yet.

MANTRA also said it is in talks with ecosystem partners to burn an additional 150 million tokens, bringing the total burn to 16.5% of OM's supply.

MANTRA CEO, JP Mullin, is burning 150 million OM tokens from his own allocation and engaging other ecosystem partners to burn an additional 150 million tokens. This 300 million OM token burn aims to restore investor trust in the project and stabilize the altcoin's price dynamics.

Mantra (OM) will unstake the share of founder John Mullin on April 29, in a bid to recover the market price and reputation.

According to the team, MANTRA CEO and founder John Patrick Mullin is burning his entire 150 million OM token allocation—worth approximately $87 million at current prices—in a bid to restore trust following the token's historic 90% collapse last week. The move comes as OM trades at $0.5832, down 90.4% over the last two weeks.

DeFi protocol MANTRA has begun the process of burning 150 million OM tokens from its team and core contributor allocation.

The crypto market trades in the green today, April 21, with Bitcoin price clinching a three-week high above $87,000, pulling top altcoins up. However, despite the gains, macroeconomic fears still linger due to the ongoing US tariffs, with Japan's recent refusal to concede on all US demands sparking marking anxiety.

Here is how some of your favorite assets concluded the week.

Bitcoin and most cryptocurrencies remained in a tight range last week as investors monitored new developments in trade and the tensions between President Donald Trump and Jerome Powell.

The past week was a rollercoaster ride for the cryptocurrency market. Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), XRP (CRYPTO: XRP), and Dogecoin (CRYPTO: DOGE) moved sideways amid tariff uncertainties.

The collapse of the MANTRA (OM) token has left investors reeling, with many facing significant losses. As analysts comb through the causes of the collapse, many questions remain.

The crypto markets have gained some momentum since the start of the week, which has attracted significant buying pressure onto the platform. Bitcoin sticks around $85,000, while Ethereum is trading close to $1600.

This week in crypto recorded several key events across various ecosystems that will continue shaping the industry.

Mantra's recovery efforts aim to restore investor confidence and stabilize the ecosystem, highlighting the importance of transparency and trust. The post Mantra CEO says team is finalizing burn program details, buyback is well underway appeared first on Crypto Briefing.

Since the beginning of 2025, the Web3 ecosystem has reportedly lost nearly $6 billion to rugpulls, with 92% linked to the Mantra case.

The crypto market registered a marginal uptick over the past 24 hours, entering a period of relative calmness after witnessing considerable movement over the past week. The market cap dropped to $2.5 trillion before rising to $2.71 trillion and then correcting to the $2.65 trillion zone.

Mantra's OM token crashed by over 90% on April 13, falling from around $6.30 to under $0.50 in a matter of hours.

The recent OM collapse at MANTRA has left the community confused. In a series of instant drops, $5.5 billion was erased.

Mantra and associated market makers allegedly manipulated liquidity metrics for the OM token by exploiting vulnerabilities in data aggregators' self-reporting systems, according to discussions on the latest edition of “The Chopping Block” podcast. The scheme involved misrepresenting the circulating supply and trading volume of OM to create the appearance of broader market activity than existed.

The CEO and co-founder of the real-world asset (RWA) crypto project Mantra (OM) unveils a plan to bring back community trust following a massive sell-off of the blockchain's token. On Sunday, the value of the OM token plunged from a high of $6.35 to a low of $0.37, representing a huge drop of 94%.

The Mantra team has cleared the air on the collapse, but traders remain cautious on the sidelines awaiting a post-mortem report. The post Can Traders Trust the MANTRA Price Bounce? Post-Mortem Report on Collapse Incoming appeared first on Cryptonews.

Mantra's OM token collapsed by more than 90% overnight, and the crypto world can't agree on why. On April 13, OM's price plummeted from over $6 to below $0.50, wiping out more than $5 billion in market cap and triggering widespread panic across the crypto industry.The sudden crash drew comparisons to Terra's LUNA implosion as traders scrambled for answers.

The crypto market has been under bearish pressure because of President Trump's tariff policy. The Federal Reserve Chair Jerome Powell has also sparked concerns after his recent remarks revealed that US inflation may also rise because of these tariffs.

Mantra's recent token collapse highlights deeper-rooted issues within the crypto industry around fluctuating liquidity levels, creating additional downside volatility over the weekend, which may have exacerbated the token's crash.The Mantra (OM) token's price collapsed by over 90% on April 13, from roughly $6.30 to below $0.50, triggering market manipulation allegations among disillusioned investors, Cointelegraph reported. While blockchain analysts are still piecing together the reasons behind the OM collapse, the event highlights critical issues for the crypto industry, according to Gracy Chen, the CEO of cryptocurrency exchange Bitget.

The cryptocurrency market is witnessing a split in sentiment after two high-profile events – Mantra OM's collapse and XRP's ETF journey.

Despite a bullish altcoin market, mantra (OM) crashed 90% in 7 days, from ~$6.41 to ~$0.69. Speculation of stealth dumping or forced liquidations due to large pre-crash transfers to exchanges. Analysts cite centralized exchange dominance, thin liquidity, and automated liquidations, not a rug pull. Technical indicators remain bearish with OM below $0.70, low RSI (36.

MANTRA's cataclysmic price collapse on Monday raised immediate red flags about potential insider activity and price manipulation. In response, whales have sold off their holdings, hinting that the most informed wallets are de-risking.

While Mantra's downfall has deepened market skepticism, XRP's likely inclusion in a spot ETF offers a contrasting wave of optimism for traders, Santiment's analysts say.

Top crypto prices remained under pressure this week as market participants focused on the ongoing trade war between the US and other countries. Bitcoin was stuck around $84,000, while the crypto fear and greed index moved to the fear zone of 25.

A move to $0.72 was likely in the short-term, and Sunday's selling scrambled the previously healthy-looking uptrend.

When the facts change, I have to change my mind, lest be caught in some sort of homegrown dogma that will hurt us all. That's how I feel about a phrase that has withstood all sorts of markets but I fear may have finally lost its usefulness: "own it, don't trade it.

What's fueling the buzz behind SHIB and OM this week? Shiba Inu (SHIB) price analysis shows the token testing $0.000012, with whales and retail users stacking up trillions of tokens. Over on the RWA side, Mantra (OM) Price Forecast is looking strong after a $1B tokenization deal and a Google Cloud validator partnership.

Is Mantra's RWA-centered Layer-1 chain still poised for long-term growth despite the annihilated market value?

Troubled decentralized finance (DeFi) platform Mantra released an official statement addressing the reasons for a 92% flash crash of its OM token on April 13.An April 16 announcement titled “Statement of Events: 13 April 2025” reiterates that the crash did not involve any token sales by the project itself, and the Mantra team remains fully functional and continues investigating the incident. Although Mantra CEO John Mullin previously said that the team was preparing a post-mortem, the new statement offered few new details about the reasons behind the rapid movement of OM tokens to exchanges and the subsequent liquidation cascade.

The Mantra (OM) token price has surged after founder JP Mullin announced plans for a massive token burn. Mullin clarified that he intends to burn his personal team token allocation and implement a “comprehensive burn program for other parts of the OM supply.

Real-world asset project Mantra plans to create a comprehensive burn program for its OM token, CEO John Mullin said in an X post Wednesday.

The Mantra (OM) token is under intense scrutiny after its recent 90% crash, and technical patterns suggest the pain may not be over yet. As of April 16, 2025, OM is forming a textbook bear pennant structure, a bearish continuation pattern that could result in another massive leg down.

After suffering a historic price collapse, Mantra's OM is making a remarkable comeback. The altcoin plunged over 90% on April 13, falling from $6.30 to under $0.50 in hours.

John Patrick Mullin, co-founder and CEO of Mantra, claims he'll burn his OM after the token's Sunday crash.

John Mullin, CEO of Mantra (OM) announced readiness to burn his share of the team allocation. He also hopes for a wider OM burn program to boost the token's value and repair the project's reputation.

Mantra CEO John Mullin has recently announced plans to burn all the team-held tokens to rebuild trust with the community after the Mantra (OM) token came crashing down, similar to the Terra Luna Crash, on April 13.

Following a major collapse, Mantra (OM) has surged 30% in a day, fueled by a token burn proposal from its CEO.

MANTRA's OM token rebounds 30% after a 90% crash as CEO pledges personal token burn and announces buyback plans to rebuild trust.