Crypto Catastrophe? MANTRA & Laser Digital Flee the OM Token Fiasco 😲

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By Jove, two distinguished chaps entwined with the OM token—MANTRA’s dashing co-founder and Nomura’s ever-so-unflappable Laser Digital—have declared, with all the pomp of a country fête, that the weekend’s 90% plunge was none of their doing. What a kerfuffle! 😏

MANTRA’s Mullin Upholds the Honour Amidst the OM Token Tumult

John Patrick Mullin, that indefatigable co-founder of MANTRA, took to his blog with a flourish to recount the curious collapse. He alleged that a bout of ill-timed forced closures on rather unpredictable centralized exchanges precipitated a precipitous dive during the witching hours. One can only smirk at the sheer absurdity of it all! 😄

In his full-blown blog post, Mullin made it unmistakably clear that neither MANTRA’s crack team, its esteemed association, sagacious advisors, nor its well-heeled investors had any connection with the ensuing market hoo-ha. All tokens remain as securely locked as a prized family recipe, and the incident has been attributed to certain centralized exchanges engaging in opportunistic misadventures—an allegation as subtle as an elephant in a ballroom.

Mullin declared with the courteous candour of a butler:

“To be clear, this dislocation was not caused by the team, the MANTRA Chain Association, its core advisors, or our ever-devoted investors parting with their tokens.”

The team, while cherishing these partnerships as one would a fine vintage, demands a touch more accountability and oversight. Mullin added that OM’s tokenomics are in no way altered, with wallet addresses as transparent as a country pond on a still day—a testament to their unwavering commitment to the project’s structure. A community chinwag was even announced for later Monday to placate the fretful investors.

Meanwhile, Nomura’s Laser Digital, a wry investor in the OM token, promptly fired off a statement dismissing any insinuations of involvement in the sell-off. The firm, with a raised eyebrow and a dash of sarcasm, labeled the conjecture as “factually incorrect and misleading,” denying any deposit of OM tokens to the OKX exchange and asserting that wallets purportedly tied to Laser were under no such control.

Laser Digital also noted that its OM holdings remain as immovable as a venerable manor’s portrait, and that it has no desire to meddle in the affairs of the project. The firm reiterated its loyalty to its backed ventures and called for a spiffing dose of transparency in the aftermath of this merry misunderstanding.

As if scripted by a capricious playwright, OM’s price collapse on Sunday eliminated an estimated $5 billion in market value, prompting a chorus of alarm and a flood of social media bon mots. Certain critics even drew comparisons to such legendary crypto calamities as Terra’s LUNA fiasco, though both MANTRA and Nomura’s Laser Digital maintained with a wry smile that they were entirely blameless in these most extraordinary circumstances. As of 10 a.m. EDT, OM languishes at an 88.4% discount, with each coin trading for $0.714 at the time of reporting. 🤷‍♂️

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2025-04-14 17:29