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Mantra CEO John Patrick Mullin has pledged to burn all his allocated team tokens following a 90% crash in the OM token. The move aims to restore investor confidence amid allegations of price manipulation and reckless liquidations.
- Mantra's OM token crashed 90% in an hour, dropping from $6 to under $0.40, wiping out its top 25 market cap position.
- CEO John Patrick Mullin will burn his entire team token allocation to rebuild trust, with plans for a broader OM supply burn program.
- Controversy surrounds OTC deals and buybacks, with allegations of price manipulation, though Mullin claims they were for market stability.
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