The blockchain and altcoin project, MANTRA, known for its focus on real-world assets, embarked on an extensive reorganization following the tumultuous market conditions. John Patrick Mullin, the company’s founder and CEO, publicly acknowledged that the past year had been the most challenging in the company’s history. To enhance financial sustainability, MANTRA initiated staff reductions, a decision taken after several months of internal evaluation and cost-containment efforts proved insufficient to address short-term market realities. The prolonged downturn in the cryptocurrency market necessitated a reevaluation of the operational scale of MANTRA coin.
Restructuring of MANTRA’s Cost Structure
According to the announcement, job cuts impacted various departments, including business development, marketing, human resources, and support teams. Mullin clarified that these layoffs were not related to individual performance, highlighting the significant contributions of the affected employees to building the MANTRA ecosystem. Throughout 2024 and into the first quarter of 2025, the company expanded aggressively, particularly in the RWA tokenization sector, through enhanced infrastructure, ecosystem development, and market-entry investments.
Despite these efforts, a prolonged downward trend in the cryptocurrency market, intensified competition, and “unfortunate and unfair” developments in April 2025 rendered the company’s cost structure untenable. The management concluded that deeper cuts were inevitable to maintain financial stability. The primary goal of the reorganization was to render MANTRA a more agile organization, thereby strengthening operational discipline.
OM Coin Crisis and Quest for Trust
At the core of MANTRA’s recent challenges was the severe price volatility experienced in April 2025. The project’s mainnet asset, OM coin, plummeted approximately 90% in a single day, triggering widespread liquidations and investor panic. This crash also sparked accusations of insider trading and governance debates surrounding the project.
In response to these events, Mullin announced the burning of 300 million OM coins from the team’s reserves, aiming to restore confidence. The token burn, conducted in April’s final days, permanently reduced the circulating supply, lowered staking rates, and sought to rebalance the ecosystem. Through these measures and the restructuring process, management aims to lead MANTRA into 2026 as a more focused, streamlined, and resilient organization.