Mantra's OM token crashed ~90% on April 13, 2025, dropping from ~$6.30 to below $0.50, wiping out over $5 billion in market cap.

Mantra's OM token crashed ~90% on April 13, 2025, dropping from ~$6.30 to below $0.50, wiping out over $5 billion in market cap.

Mantra’s OM token price crashed by almost 90% on April 13, 2025, plummeting from $6.30 to below $0.50, leading to a staggering loss of over $5 billion in market capitalization within a few hours.

The rapid price collapse, which unfolded in the low-liquidity hours, has been attributed by MANTRA to “reckless forced liquidations” by centralized exchanges (CEXs) during periods of low volume.

However, despite MANTRA’s denial of insider selling and claims that one exchange’s sudden closure of positions without warning triggered a chain reaction, some community members remain skeptical.

They point to evidence of large-scale token deposits, such as 3.9 million OM being deposited into OKX in the days leading up to the crash, which they suggest could indicate insider dumping.

While no conclusive evidence confirms either narrative, both are being investigated.

A prominent Bitcoin (BTC) advocate and Strategy chairman, Michael Saylor, predicts Bitcoin could reach a $500 trillion market cap. This would put the per-coin price at roughly $23.8 million to $25.2 million, given Bitcoin’s 21 million total coins or 19.84 million circulating supply.

Saylor's vision assumes a 29,000%+ increase from Bitcoin’s current $1.67 trillion market cap, a scenario many deem speculative.

It would also require an unrealistic reallocation of global wealth, as $500 trillion dwarfs world GDP, which is around $100 trillion.

Saylor, known for his bold predictions—like suggesting a $13 million per coin price by 2045, is a significant investor in Bitcoin, which some say may bias his outlook.

While some see Saylor’s hyper-digital future vision as plausible, others deem it exaggerated, highlighting the practical limits to Bitcoin adoption and valuation on a global scale.

Binance executives reportedly met with U.S. Treasury officials to discuss easing regulatory oversight, particularly around anti-money laundering compliance. They also explored a deal with the Trump family’s crypto venture, World Liberty Financial, which could involve listing a new dollar-pegged stablecoin, USD1.

These talks were initiated by Binance in a bid to facilitate its return to the U.S. market following a $4.3 billion settlement in 2023 for violations of anti-money laundering laws.

After being shut down in 2024, Binance is planning to restart its U.S. operations with the launch of USD1, which would be listed on Binance and marketed to Binance’s massive user base and trading volume for optimal adoption.

Discussions also touched upon a potential stake for the Trump family in Binance.US, though details are still limited.

The meeting comes amid Binance’s broader efforts to navigate a shifting regulatory landscape in the U.S., especially under the current administration which is known for its crypto-friendly stance.

Oklahoma’s Strategic Bitcoin Reserve Act, House Bill 1203, failed to advance in the Senate Revenue and Taxation Committee on April 14 with a 6-5 vote.

The bill, introduced by Rep. Cody Maynard, aimed to allow the state treasurer to invest up to 10% of public funds in Bitcoin and other cryptocurrencies.

Those voting against the bill were Senators Todd Gollihare (R), Chuck Hall (R), Brent Howard (R), Dave Rader (R), Julia Kirt (D), and Mark Mann (D). Those voting for the bill were Senators Christi Gillespie (R), Greg Link (R), Joshua Newman (D), and John Taggart (R).

The bill had previously passed the House Government Oversight Committee (12-2) on February 25 and the full House (77-15) on March 24.

After passing the House, the bill went to the Senate, where it was assigned to the Senate Appropriations and Revenue & Taxation Committees. The Senate Appropriations Committee approved the bill on March 25.

However, the Senate Revenue and Taxation Committee encountered difficulties in reaching an agreement on the bill.

The committee had a close vote on Monday, April 13, but ultimately failed to pass the bill.

Despite a last-minute vote switch by Sen. Gillespie, who was influenced by constituents who reached out to her in support of the bill, the bill fell short of the required majority.

It is likely that the senators who voted against the bill had concerns about the risks involved in investing taxpayer funds in Bitcoin, considering its volatility and the potential for losses.

Several other states, including Montana, have also faced difficulties in passing similar bills due to opposition from state-level officials.

Brazilian fintech Méliuz has taken a step further in its adoption of Bitcoin (BTC) by making