Source: Cointelegraph Original: "{title}"
A cryptocurrency investment executive stated that the biggest problem in the digital asset market is price manipulation, claiming that collusion between market makers and exchanges distorts token prices.
Arthur Cheong, founder of the cryptocurrency investment firm DeFiance Capital, expressed in a post on the X platform that market makers and crypto projects collaborate to create artificially sustained prices. Arthur wrote:
"You cannot determine whether the price is based on organic supply and demand or simply because the project parties and market makers collude to manipulate the price for other purposes."
He added that if industry participants do not take action to improve this situation, a significant portion of the crypto market will be "uninvestable" in the foreseeable future.
Arthur noted that it is strange for centralized exchanges (CEX) to be "completely oblivious" to this issue. He described the altcoin market as a "lemon market," an economic term that describes a market where bad quality drives out good quality due to information asymmetry.
Additionally, Arthur described the pricing of most token generation activities in 2025 as "an absolute joke," with these assets' prices dropping by 70% to 90% months after listing. Arthur added, "Anyone who bought has suffered heavy losses."
Data collected by crypto analyst Miles Deutscher shows that among the tokens listed on Binance this year, only 3 out of 27 have performed well. This means that 88% of the tokens have declined since their listing.
Price declines range from 19% to 90%. Deutscher stated that this is the reason retail investors are exiting.
Only 3 of the tokens listed on Binance in 2025 are in profit. Source: Miles Deutscher
A community member responded to this data by stating that this reflects the current state of the industry. This X user added that they hope Binance realizes that starting with overvalued assets is not beneficial for users.
Binance co-founder Zhao Changpeng (CZ) previously acknowledged that Binance's listing process needs reform. On February 10, the former Binance CEO stated that the current system is flawed and suggested that centralized exchanges (CEX) should implement automated listings like decentralized exchanges (DEX).
Related: Binance to remove 14 tokens based on a "voting delisting" process.
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