a16z Founder: Launchpad Platform auto.fun to be Launched This Week
a16z founder Shaw posted on X that the Launchpad platform auto.fun will be launched this week. Creators can independently collect fees from content creation and token issuance, and the community can collaborate to initiate content or create CTO tokens based on other platforms. The platform aims to build a "decentralized, transparent" content and token publishing space truly belonging to creators and the community.
Jupiter Co-founder: Numerous Products to be Launched in the Coming Months
Jupiter co-founder Meow posted on X: "In the next few months, we will launch numerous products, governance concepts, experimental meta-protocols, thought articles, and new technical concepts."
OM's Crash in the Past 12 Hours Has Led to $66.97 Million in Liquidations
According to Lookonchain, OM's crash in the past 12 hours has led to $66.97 million in liquidations. Among them, 10 positions had liquidation amounts exceeding $1 million each.
According to Lookonchain, before OM's crash, at least 17 wallets deposited 43.6 million OM (worth $227 million at the time) into exchanges, accounting for 4.5% of the circulating supply. Based on Arkham's labeling, two addresses are associated with Laser Digital, a strategic investor of MANTRA.
5 Wallets Deposited 24.4 Million OM into OKX in the Past 3 Days, Worth Approximately $144 Million
According to The Data Nerd, 6 hours ago, OM's price plummeted 90% from $6 to $0.4. In the past 3 days, 5 wallets deposited 24.4 million OM (approximately $143.94 million) into OKX. Four wallets had the same pattern: withdrawing from Binance last month and then depositing into OKX; another belongs to Laser Digital.
According to Fang Cheng News, an unidentified market maker experienced an algorithmic error after the OM (Mantra) flash crash, accidentally raising the BTCDOM (Bitcoin Dominance Index) perpetual contract on Binance by 20%. The BTCDOM index components include the top 20 cryptocurrencies by market cap on Binance and Binance Futures, excluding BTC and stablecoins, with OM's weight being only about 5%. This abnormal fluctuation is suspected to be due to the market maker mistakenly judging the OM price's violent fluctuation as a market structure change, triggering a strategic buy operation.
CZ Responds to OM Flash Crash: Don't Chase Narratives, CEX and DEX Should Not Have Listing Processes
CZ posted on X this morning after the OM flash crash, advising investors: "Don't chase narratives. Stick to projects with fundamentals, users, revenue, and profits." In response to community questions about whether Binance conducted due diligence on OM, CZ stated: "I no longer manage Binance, but I actually believe the opposite, that centralized exchanges (CEX) and decentralized exchanges (DEX) should not have listing processes. They should provide access to all global tokens. Traders should decide what they want to trade."
Warning: Cybercriminals Targeting Binance Users with New Phishing SMS Scam
According to BeInCrypto, cybercriminals are targeting Binance users with a new phishing SMS scam. Dozens of Binance users reported receiving seemingly legitimate phishing SMS messages with phone numbers and message inboxes consistent with official Binance communications. Comparisons show these phishing SMS are highly similar in wording and format. It is speculated that specific threat actors or criminal groups are planning carefully designed phishing attacks against Binance users. In such targeted phishing attacks, SMS often warn users of account abnormalities like new device two-factor authentication. The most common phishing SMS mention an unexpected association between Binance API and Ledger Live, urging recipients to call the provided phone number. Some users noted these phishing SMS appear in the same message thread as legitimate Binance notifications, causing confusion and making it easy to fall into the trap. Many users were unprepared, as the phishing SMS sender ID matched the real Binance notification ID. Binance's Chief Security Officer Jimmy Su confirmed that Binance has noticed an increasing trend of SMS phishing. He stated: "More and more phishing scammers are impersonating us or other legitimate senders via SMS, with scam messages appearing real, tricking users into revealing sensitive information, clicking phishing links, or transferring funds, leading to asset losses." Su also revealed that Binance has extended its anti-phishing code feature to SMS services, originally designed for emails. This code is a user-defined identifier that appears in official Binance communications, helping recipients identify genuine notifications and avoid being deceived by impersonators. Currently, the anti-phishing code feature has been launched in all licensed jurisdictions where Binance operates. Additionally, Binance reported that both registered and unregistered users have received suspicious SMS.
Layer 1 blockchain project MANTRA officially responded to the "OM token crash" in an official blog post: "We have confirmed that the OM market volatility was caused by reckless forced liquidation of OM account holders by centralized exchanges. The timing and depth of the crash indicate that account positions were closed very suddenly, without sufficient warning or notification. This occurred during the low liquidity period in the early morning Asian time, which at least suggests a certain degree of negligence by centralized exchanges, or possibly intentional market manipulation. Centralized exchange partners play a crucial role in providing liquidity for projects like ours. We work closely with them, however, they still possess enormous discretionary power. When this discretionary power is exercised without appropriate internal and external supervision, it can lead to market dislocations that harm the interests of projects and investors, as recently happened. It needs to be clear that this market dislocation was not caused by the team, MANTRA Chain Association, its core advisors, or MANTRA investors selling tokens. The tokens remain locked and are still subject to the previously announced vesting period. The token economics of OM remain unchanged, as we stated in our latest token report last week. Our token wallet addresses are online and visible." Earlier, MANTRA's OM token price suddenly plummeted 90% in the early morning, with the team attributing it to "reckless liquidation"
MANTRA's OM Token Price Suddenly Drops 90% Overnight, Team Blames "Reckless Liquidation"
According to The Block, the OM token of MANTRA, a Layer 1 blockchain project focusing on real-world assets (RWA), dropped by about 10% between 01:20 and 02:20 Beijing time, then suddenly plummeted from $5.21 to around $0.50 within 90 minutes. Before the project's public Telegram group became inaccessible, community leader Dustin McDaniel downplayed team sell-off accusations, claiming he was unaware. At 04:51, MANTRA's X account updated that the crash was caused by reckless liquidation and was unrelated to the project itself. Co-founder John Patrick Mullin mentioned large OM investors being massively liquidated on CEX and stated they were addressing the issue. Previously, MANTRA was accused of controlling a significant portion of the token's circulating supply to manipulate its price. Mullin responded: "The OM token has been circulating since August 2020, longer than most critics have been in the crypto space." Some investors noted that defillama data shows MANTRA protocol's TVL is only around $15 million, while its fully diluted valuation is as high as $9.5 billion, which could be a risk signal. Additionally, Castle Labs governance lead Insomniac discovered three wallets recently transferred millions of OM tokens to OKX and Binance, with one wallet receiving about $36 million OM from Binance on March 21 and transferring about 4.3 million tokens to OKX on Saturday, suggesting potential selling.
DePIN project Solix DePIN Completes $29.5 Million Funding
According to Business Insider, DePIN project Solix DePIN has received $29.5 million in funding from the Eclip Foundation. This investment will accelerate the development of Solix's Model Context Protocol (MCP) technology, which enables smart bandwidth sharing without affecting user internet experience. Solix DePIN is a decentralized physical infrastructure network that allows users to share and monetize their excess bandwidth. The Model Context Protocol (MCP) at the core of Solix technology connects AI models with real-time context data of internet usage, enabling dynamic and intelligent bandwidth allocation decisions.
According to Jinshi, OpenAI founder and CEO Sam Altman posted on social platforms that many exciting products will be released in the coming week, starting from tomorrow (Tuesday Beijing time).
According to Lookonchain, a whale sold 1.56 million Fartcoin ($1.26 million) and then bought 11.62 million RFC, causing RFC's market cap to briefly surge over $100 million.
Strategy (formerly MicroStrategy) founder Michael Saylor again posted Bitcoin Tracker-related information on X, stating: "No taxes on the orange dot." Based on previous patterns, MicroStrategy always discloses Bitcoin acquisition information the day after such messages.
Token Unlocks data shows that tokens like FTN, CONX, QAI will have significant unlocks next week, including Fasttoken (FTN), Connex (CONX), QuantixAI (QAI), Polyhedra Network (ZKJ), Arbitrum (ARB), deBridge (DBR), Starknet (STRK), Omni Network (OMNI), Melania Meme (MELANIA), Immutable (IMX), Sei (SEI), ApeCoin (APE), and Onyxcoin (XCN).
Crypto-friendly El Salvador President Nayib Bukele has arrived in the US and will meet with Trump. Previously, Trump invited Bukele to a White House meeting on April 14 to discuss bilateral cooperation and diplomatic relations.
Binance Customer Support responded on X to ZEC withdrawal issues, stating a technical failure with Ledger's ZEC app is causing temporary withdrawal problems. All funds remain secure in cold wallets, and they are working with Ledger to resolve the issue, expecting to restore ZEC withdrawals by April 17.
