Shorooq Partners, a prominent investment firm in Middle East and North Africa, has come forward and clarified that neither they nor the Mantra Team has sold any of the tokens during the OM token crash. The investment firm then further emphasized that the price collapse was all due to a large forced liquidation which led to panic sell-offs during low-liquidity hours.
An official X statement was issued by the Shorooq Partners today, April 14, 2025, on social media platform X (formerly known as Twitter).
What’s the connection between Shorooq and Mantra’s OM Token?
Shorooq Partners is closely associated with the OM Token as it has made significant investment in MANTRA, the layer 1 blockchain platform.
In March 2024, the investment company invested $11 million in MANTRA to help the blockchain make investments more accessible in the Middle East and Asia. MANTRA plans to achieve this goal by tokenizing real-world assets by which it will become easier for people to invest and promoting economic growth.
Regarding the MANTRA token, Shorooq with its statement on social media platform X, has reaffirmed its long-term commitment as an equity investor and supports MANTRA’s mission to tokenize real-world assets.
Shorooq Shares Wallet Details
In order to keep things transparent, the firm has shared their wallet details, proving that they have not sold any of the tokens during the market crash. This move is being seen as a gesture of trust and reassurance to the crypto community, which has been shaken with this sudden price drop of the OM token.
The Mantra team has also responded to the crash and pointed out that the price drop was all because of “reckless liquidation” and further clarified that the crash was not because of any internal issue. The team has also announced that they are currently investigating the entire scenario and have assured the community that the project is fundamentally strong.
Concerns Raised After the Reassurances
Despite these reassurances from Mantra’s team and Shorooq’s team, concerns have been raised about tokenomics, potential insider trading and few of the community members also feel that this incident could possibly be a rug pull.
Shorooq’s commitment to MANTRA is also an example that shows that the investment firm values transparency and exhibits trust in the blockchain world. By posting this statement on X, it also shows that the investment company is a reliable supporter of innovation within the blockchain space.
Also Read: OM Token Volatility: OKX Highlights Unusual On-Chain Activity
