Nomura's Laser Digital Denies Involvement in Mantra Crash

Switzerland-based buying and selling agency Laser Digital, which is a part of the Nomura Group, has denied any involvement in the Mantra token flash crash that noticed OM lose lose 90% of its worth.

“Assertions circulating on social media that link Laser to ‘investor selling’ are factually incorrect and misleading,” the agency wrote on X.

Laser Digital went on to share its managed Mantra pockets addresses, none of which present deposits to exchanges or promoting exercise.

Speculation stays rife over why OM collapsed so violently. The Mantra group insist it was attributable to wider market pressures and centralized exchanges forcibly closing positions, which led to a liquidation cascade.

OKX acknowledged that the worth volatility occurred attributable to a spike in buying and selling quantity coupled with an preliminary value decline throughout numerous exchanges out facet of OKX, earlier than spreading to the broader market.

Before the crash, 17 wallets deposited 43.6M OM ($227M) to exchanges, this led to a panicked response from holders because the Mantra group holds 90% of the token’s circulating provide, spurring the preliminary sell-off.

OM is presently buying and selling at $0.57, down 90% from the day’s excessive of $6.14 as buying and selling quantity has elevated by 3,425% to $2.6 billion, based on CoinMarketCap.