Odaily News According to HashKey Capital member Rui and ArkStream Capital Founding Partner Ye Su’s revelations on X, the cryptocurrency project MANTRA (OM) is a “ground-pushing OTC plate” with an OTC scale of US$500 million. It operates in a cycle of “new OTC tokens taking over old OTC selling plates” until the last unlocked chips “OTC does not move” explode.
According to reports, in 2023, when the OM token FDV fell to $20 million and was almost abandoned, a Middle Eastern capital intervened in the acquisition under the matchmaking of an intermediary, retaining only the position of CEO. The Middle Eastern capital owns a large number of physical assets such as luxury homes and resorts, and then packaged OM into a physical asset tokenization (RWAfi) project.
Ye Su said that under a high degree of control, OM achieved Binance's highest increase in 2024, achieving a 200-fold growth. The team is still promoting the "OTC" business recently.