Crypto ‘uninvestable’ if exchanges ignore manipulation: DeFiance CEO
Defiance Capital founder Arthur Cheong claimed that centralized exchanges are turning a blind eye to market makers creating artificial crypto prices.
A crypto investment executive said the biggest problem with digital asset markets is price manipulation, claiming that collusion between market makers and exchanges distorts token prices.
Arthur Cheong, founder of crypto investment firm DeFiance Capital, said in an X post that market makers and crypto projects work together to create artificial prices that can be sustained for long periods. Cheong wrote:
He added that if the industry’s players don’t step up and improve the situation, a big part of the crypto market will remain “uninvestable for the foreseeable future.”
