OKX Faces MANTRA Over OM Token Migration Dispute

A public dispute between cryptocurrency exchange OKX and blockchain project MANTRA has reignited over the planned migration of the OM token from an ERC-20 standard to a native blockchain asset. The conflict, which initially centered on technical transparency, has escalated into accusations of market manipulation and demands for clearer communication. MANTRA CEO John Patrick Mullin confirmed in an open letter that the project is proceeding with the OM token migration despite ongoing tensions with OKX. The exchange has raised concerns about the technical execution and potential market impacts of the migration process. Market participants are closely watching the situation as it highlights the complex relationship between centralized exchanges and decentralized projects during major protocol upgrades. The allegations of market manipulation add another layer of controversy to what was initially presented as a routine technical migration. Both parties are under pressure to resolve their differences transparently to maintain investor confidence during this critical transition period. The outcome of this dispute may set important precedents for how exchanges and projects collaborate during token migrations and protocol upgrades in the future.

OKX and MANTRA Clash Over OM Token Migration Amid Market Manipulation Allegations

A public dispute between cryptocurrency exchange OKX and blockchain project MANTRA has reignited over the planned migration of the OM token from an ERC-20 standard to a native blockchain asset. The conflict, which initially centered on technical transparency, has escalated into accusations of market manipulation and demands for clearer communication.

MANTRA CEO John Patrick Mullin confirmed in an open letter that the ERC-20 OM token will be deprecated by January 15, 2026, with a protocol-level upgrade following shortly after. The migration involves a 1:4 token split and requires no user action. However, OKX has raised concerns about the clarity of the transition timeline and mechanics, reviving scrutiny from April's $5 billion market value collapse of OM.

Token concentration and alleged coordinated trading patterns have added fuel to the controversy, raising fresh questions about market integrity. The dispute highlights growing tensions between exchanges and projects during major tokenomic transitions.

OKX Expands Spot Margin Trading to European Markets with High-Leverage Offerings

OKX has launched its Spot Margin trading service in Europe, responding to strong demand from regional traders. The platform now offers European Economic Area customers access to Leveraged trading with up to 10× on major pairs including BTC, ETH, and USDC.

The rollout brings European traders into parity with OKX's global user base, featuring cross-margin functionality and a unified USD orderbook designed for optimal liquidity. This strategic expansion underscores Europe's growing importance in OKX's global growth strategy, following recent enhancements to institutional offerings and trading infrastructure across the region.