Binance Founder Changpeng Zhao (aka CZ) has weighed in amid the recent $OM crash, stating that centralized exchanges (CeX) and decentralized exchanges (DeX) should not have a listing process.
CZ Chimes In on the $OM Crash
Right after Mantra’s $OM crashed 90% on Sunday, CZ advised investors not to chase the narrative and to stick to projects with fundamental principles, users, revenue, and profit.
In response to the community’s questioning of “OM’s flash crash and Binance’s due diligence,” CZ wrote, “I don’t run Binance anymore, but I actually think the reverse, i.e., CEX (and DEX) should not have a listing process. They should provide access to all tokens in the universe. Traders decide what they want to trade.”
$OM Crash
MANTRA, which is known for tokenizing real-world assets (RWAs), saw its OM token plummet from above $6 to $0.37 in under 24 hours. Notably, $OM had reached a high of $9 earlier in 2025, but is currently trading around $0.7984.
Reports suggest that the Mantra team or an associated market maker sold 87% of circulating tokens, leading to insider trading. However, note that MANTRA denies involvement.
Users have alleged that the Mantra team or an insider offloaded tokens over-the-counter (OTC) and deleted MANTRA’s Telegram group, cutting off investor communication. Meanwhile, MANTRA’s team blamed “reckless liquidations” by external actors for the crash. The team took to X to clarify, “MANTRA community – we want to assure you that MANTRA is fundamentally strong. Today’s activity was triggered by reckless liquidations, not anything to do with the project.”
Also Read: Pakistan Appoints CZ as its Crypto Advisor, Growth Imminent?
