Founder of DeFiance Capital: Collusion between projects and market makers to manipulate prices is the biggest problem in the current crypto market

On April 15, Arthur, founder and chief investment officer of DeFiance Capital, wrote on the X platform that the biggest problem currently plaguing the liquid cryptocurrency market is how projects and market makers can cooperate to create artificial prices that can be maintained in the long run. This process is completely black box. You can't tell if prices are determined by real supply and demand relationships, or just because projects and market makers collude to manipulate prices to achieve other goals. It is incredible that centralized exchanges (CEX) are completely blind to this, and the counterfeit products market is increasingly becoming a "lemon market" without confidence. Not to mention that the pricing of most initial coin offerings (TGEs) this year was nothing short of a joke. They fell by 70% to 90% within a few months of listing, and anyone who bought them suffered huge losses. If major players in the industry do not step up to improve the situation, much of the market will remain unattractive for investment in the foreseeable future.