$OM Plunges 90% – Now the CEO Is Fighting to Rebuild
Following a devastating $5 billion liquidation, Mantra’s $OM token has been in a steep decline. Though it briefly bounced, downward pressure quickly resumed.
The reason? An internal report confirms forced liquidations during low-liquidity periods, highlighting major vulnerabilities in the trading system.
But CEO John Patrick Mullin isn’t stepping aside.
He’s just announced a bold recovery strategy:
A Managed Close Program is on the way
Aggressive token buybacks have already started
A real-time transparency dashboard is being rolled out
Token burns and redistribution from the original 300M contributor pool
And in a dramatic move: Mullin will burn his personal token allocation to demonstrate full accountability
From $1.8B to $200M – OM’s fall was severe.
But this plan aims to restore confidence, reinforce the platform, and re-energize the community.
The next few days will be pivotal. Could this become one of crypto’s greatest turnarounds?