CEO of Mantra initiates burning 300 million OM tokens to restore trust and stabilize the altcoin's price. Learn about the market crash and the implications.
John Patrick Molin, the CEO of the Mantra project, has initiated the burning process of 150 million OM tokens from his personal share and is collaborating with project partners to burn another 150 million tokens. In total, 300 million Mantra tokens are set to be removed from circulation. The purpose of this action is to regain investors’ trust and stabilize the price of this altcoin. The Mantra token experienced one of the most severe market crashes in the history of cryptocurrencies on April 13, 2025, losing over 90% of its value in less than an hour. This crash destroyed over $5.5 billion of Mantra’s market value and led to allegations of internal selling and manipulation in the Real-World Asset (RWA) token sector.
