Binance responds to OM flash crash: mainly triggered by cross-trading platform clearing, will closely monitor the development
Binance officially issued a statement saying that it noticed a violent price fluctuation of the MANTRA token OM, and preliminary investigations found that the fluctuations in the past day were mainly caused by cross-trading platform clearing.
Since October last year, Binance has implemented several risk control measures for OM tokens, including reducing leverage levels. Binance continuously monitors leverage levels and adjusts them based on market conditions to strengthen risk control and help reduce volatility.
Since January this year, Binance has also enabled a pop-up prompt on OM on the spot trading page, alerting users that the token's token economic model has undergone significant changes and the supply has increased.
Binance will continue to closely monitor the situation and take appropriate actions to protect the interests of users and maintain the stability and fairness of the platform.