Binance responds to OM flash crash: mainly caused by cross-trading platform liquidation, will closely monitor developments

Odaily News Binance officially stated that it had noticed drastic price fluctuations in the MANTRA token OM. Preliminary investigations found that the fluctuations in the past day were mainly caused by cross-trading platform liquidations.
Since October last year, Binance has implemented a number of risk control measures for OM tokens, including reducing leverage levels. Binance will continue to monitor leverage levels and adjust them according to market conditions to strengthen risk control and help reduce volatility.
Since January this year, Binance has also enabled pop-up prompts for OM on the spot trading page, reminding users that the token economic model of the token has undergone major changes and the supply has increased.
Binance will continue to monitor developments closely and take appropriate actions to protect user interests and maintain the stability and fairness of the platform.