In today's crypto news, John Mullin, CEO of Mantra, refuted allegations of insider selling by key investors, including Laser Digital, just before the OM token experienced a dramatic 90% collapse. Despite onchain data suggesting otherwise, Mullin stated in an AMA that Mantra's core team and investors had not sold their holdings and promised verifiable onchain proof. Recent reports claimed that Laser Digital had cashed out substantial amounts of OM tokens prior to the crash. Additionally, the Mantra team pointed to the forced liquidation of positions by centralized exchanges, particularly one unnamed exchange, as a potential cause of the token’s rapid decline. After the crash on April 13, the OM token's price plummeted to around $0.38, but it has since recovered to around the $1 mark. Mantra's leadership is currently investigating the circumstances surrounding the crash and aims to provide more information soon.

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