Crypto ‘uninvestable’ if exchanges ignore manipulation: DeFiance CEO

Arthur Cheong, a crypto investment executive, highlights price manipulation as the biggest issue in digital asset markets. He claims collusion between market makers and exchanges artificially inflates token prices. Cheong argues this obscures organic market forces, making much of the market uninvestable. He criticizes centralized exchanges (CEXs) for ignoring this price manipulation. Cheong describes the altcoin market as a "lemons market," where poor-quality assets dominate due to information asymmetry. Data shows 88% of Binance-listed tokens in 2024 declined significantly post-listing, leading retail investors to withdraw. This highlights the problem of inflated initial token prices. A community member agrees, hoping Binance will adjust its listing practices. Binance's co-founder has acknowledged flaws in their listing process and suggested automation. The overall situation points to a need for significant reform within the crypto market.