MANTRA is cutting back on staff to stay afloat after a brutal market year

Several teams at MANTRA are being hit by layoffs after a turbulent year.

MANTRA founder and CEO John Patrick Mullin announced a significant restructuring at the company. In a post on

The decision to reduce headcount followed months of internal discussions and came after efforts to curb spending and streamline operations proved insufficient to meet short-term market realities. According to the announcement, the layoffs will impact teams across the organization, including business development, marketing, human resources and other support functions, which will be hardest hit.

Mass layoffs for ‘slimmer’ MANTRA

Mullin said the staff reductions did not reflect individual performance, while those involved were described as talented contributors who helped build the ecosystem. The executive added that the Layer 1 blockchain had expanded aggressively in 2024 and the first quarter of 2025 in an effort to rapidly scale within the RWA tokenization sector, investing heavily in blockchain infrastructure, ecosystem development and go-to-market efforts.

However, a combination of factors, such as the prolonged downturn in the crypto market, intense competition and “unfortunate and unfair” events in April 2025, left the company with a cost base that was no longer sustainable. As a result, management concluded that deeper cuts were necessary to preserve the runway and refocus the company.

Mullin said the restructuring is intended to make MANTRA significantly “leaner” this year. This is expected to allow the company to focus resources on a narrower number of high-priority initiatives, while delivering with greater discipline.

“I take full responsibility for these decisions and for the path that has led us here. I know this is an incredibly challenging situation, especially for those directly affected, for their families and for everyone at MANTRA. I am especially sorry for those who are leaving us.”

ABOUT Token Crash

MANTRA’s troubles date back to April 2025, when its native token OM plummeted nearly 90% in a single day. The event led to mass liquidations and panic among investors. In response, Mullin promised to burn the team’s 300 million OM tokens. This step was aimed at restoring trust.

The fire was carried out in late April, permanently reducing circulating supply, lowering deployment rates and seeking to stabilize the ecosystem amid intense scrutiny of alleged insider activities and governance issues.