MANTRA's OM Token Crashes 90% Amid Insider Sell-Off Allegations The MANTRA crypto project is embroiled in controversy after its OM token crashed 90% on Sunday, with investors alleging an insider dumped its holdings, wiping out an estimated $5 billion in market value.
MANTRA, known for tokenizing real-world assets (RWAs) and its partnerships with Google Cloud and Dubai’s DAMAC Group, saw its OM token plummet from above $6 to $0.37 in under 24 hours. The token, which peaked at $9 earlier in 2025, now trades around $1.03 as of 7:40 p.m. EDT. Social media posts claim the team or an associated market maker sold 90% of circulating tokens, though MANTRA denies involvement.
The crash, one of crypto’s steepest single-day drops, sparked accusations of market manipulation. Critics allege the team or an insider offloaded tokens over-the-counter (OTC) and deleted MANTRA’s Telegram group, severing investor communication. Social media erupted with fraud comparisons to Terra Luna’s 2022 collapse. #mantra #MantraDao #Binance #news #BTC🔥🔥🔥🔥🔥
Bitcoin saw little price change on Monday as risk appetite improved marginally on relief over some U.S. exemptions on trade tariffs against China, although fears of a worsening trade war kept traders on edge. Crypto markets were nursing wild swings over the past few weeks, as a trade war between the world’s biggest economies escalated drastically, battering global risk-driven markets. Bitcoin had slumped as low as $74,000, although it recovered sharply from these lows as U.S. President Donald Trump made sweeping concessions in plans to impose trade tariffs on major trading partners. But China was not included in these concessions.
Bitcoin steadies amid some tariff relief Bitcoin largely lagged strong gains in broader risk-driven assets on Monday. But the crypto still steadied from recent losses after the White House said that electronic imports from China, which represent a bulk of the country’s trade surplus on the U.S., will be exempt from Trump’s reciprocal tariffs. This helped soothe some immediate concerns over the impact of Trump’s tariffs on the U.S. economy. But Trump said on Sunday that this was temporary, and that he will announce separate tariffs on electronics and semiconductors soon. Trump ramped up his tariffs on China to a cumulative 145%, drawing retaliatory tariffs of 125% from Beijing amid a rapidly escalating trade war between the world’s biggest economies. This notion still kept traders on edge, limiting the appeal of risk-driven assets such as cryptocurrencies. Speculative assets such as crypto tend to underperform in times of economic uncertainty, while havens such as gold and the Japanese yen outperform. #bitcoinwithtariffs #binancealphaalert #USElectronicsTariff #SaylorBTCPurchas