Well folks, gather ’round for a tale that’d make even a riverboat gambler blush! π° It seems our friends over at Binance and OKX have found themselves in quite the pickle with this here OM token situation. And ain’t that just the way of it? π€
Now, on April 14th, after this Mantra token lost more money than my Aunt Sally’s failed pickle business ($5.5 billion, if you’re countin’), Binance came out struttin’ like a rooster in a henhouse, trying to explain themselves on that newfangled X platform.
They say it’s all due to some fancy “cross-exchange liquidations,” which is just a highfalutin way of saying “everybody panicked and sold at once.” πββοΈπ¨
Binance is aware that $OM, the native token of MANTRA, has experienced significant price volatilities. Our initial findings indicate that the developments over the past day are a result of cross-exchange liquidations.
Since October of last year, Binance has implemented variousβ¦
β Binance Customer Support (@BinanceHelpDesk) April 14, 2025
Binance claims they’ve been warning folks since January, like putting up a “Beware of Dog” sign after the mutt’s already bitten half the neighborhood. π They even had the nerve to put up one of them pop-up warnings, as if anybody reads those things! π
The token’s done dropped faster than a hot potato at a juggling contest – we’re talking 90% down in 24 hours! π
Meanwhile, over at OKX, their CEO Star (and ain’t that just the fanciest name you ever did hear?) is calling this whole mess “a big scandal.” Well, butter my biscuit and call me shocked! π±
Here’s where it gets more twisted than a pretzel at a German bakery – seems like 127 million tokens done walked right out of Binance’s front door! And OKX, bless their hearts, picked up half of ’em like they were on sale at the dollar store. πͺ
The Mantra folks are pointing fingers faster than a kindergarten classroom during “who took the last cookie” investigation. Their CEO, JP Mullin, is swearin’ up and down it wasn’t their fault, but some fancy-pants on-chain analysts are saying different. They reckon the team’s holding onto more tokens than a squirrel holds nuts in winter! πΏοΈ
And that, my friends, is how you lose $5.5 billion faster than you can say “cryptocurrency”! Makes the Mississippi River gambling boats look like Sunday school! π²
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2025-04-14 10:55