From Coin Telegraph

April 14, 2025 11:25:00 AM:

Mantra CEO John Mullin reassured community members during an AMA session that efforts are underway to support the recovery of the OM token. The token is currently trading at $0.73, slightly up from its low of $0.52 on April 13. Mullin also dismissed claims of key investors dumping the token and controlling 90% of the supply.

The Mantra Ecosystem Fund (MEF), a $109 million fund launched on April 7, includes major strategic investors such as Laser Digital and Shorooq. Mullin clarified that the fund consists of dollar commitments and contributions, not just the OM token. Other investors include Brevan Howard Digital, Valor Capital, and more.

The end of a staking program on Binance led to a transaction of 38 million OM tokens to the exchange’s cold wallet. Mullin explained that Binance used the tokens for staking and returned them after the program ended. He also addressed community concerns about collaterals on an unnamed exchange causing sell pressure, leading to liquidations. Mantra remains committed to transparency in addressing the situation.

Read more at Cointelegraph: Mantra CEO says OM token recovery ‘primary concern’ but in early stages