Popular crypto firm announces layoffs after token's disastrous drop

Core Insights - MANTRA, a layer-1 blockchain firm focused on real-world asset tokenization, announced a company-wide restructuring aimed at becoming leaner and more capital-efficient heading into 2026 [1][5] - The restructuring follows a significant market downturn and the collapse of its native token, OM, which fell by over 90% in April 2025, impacting the project's financial position and market perception [3][5] - CEO John Patrick Mullin attributed the token's collapse to forced liquidations by centralized exchanges, which he claims triggered a cascading sell-off [4] Company Overview - MANTRA was initially launched as MANTRA DAO, a DeFi-focused platform, before evolving into MANTRA Chain [2] - The company has invested heavily in scaling its layer-1 blockchain and RWA tokenization infrastructure, but faced unsustainable cost structures due to various market challenges [5] Restructuring Details - The restructuring will lead to headcount reductions across various teams, including business development, marketing, HR, and support functions, with cuts not being performance-related but reflecting a narrower operational focus [6] - Despite the challenges, the CEO expressed confidence in the potential of MANTRA Chain and its role in the next phase of crypto adoption [7]