Part 2/7:
JP Mullen, currently situated in South Korea after hosting a Real World Assets (RWA) summit, expressed his surprise at the abrupt downturn. He explained that he was first alerted to the situation by a hotel staff member around 5 AM after waking up to find that the token had plummeted to about 50 cents from a significantly higher value.
Mullen attributed the fall to a forced liquidation of collateral positions tied to the token, which triggered a massive sell-off. This was no ordinary market fluctuation; the rapid decline raised skepticism regarding the project's integrity and the motivations of its team.