Binance responds to OM flash crash: mainly caused by cross trading platform clearing, will closely monitor the development of the situation

BlockBeats News: On April 14th, Binance officially announced that they have noticed significant price fluctuations in the MANTRA token OM. Preliminary investigations have found that the fluctuations in the past day were mainly caused by cross platform clearing. Since October last year, Binance has implemented multiple risk control measures for OM tokens, including reducing leverage levels. Binance will continue to monitor leverage levels and make adjustments based on market conditions to strengthen risk control and help reduce volatility. Since January this year, Binance has also enabled pop-up prompts for OM on its spot trading page, reminding users that the token's economic model has undergone significant changes and the supply has increased. Binance will continue to closely monitor the development of the situation and take appropriate actions to protect user interests and maintain the stability and fairness of the platform.