Arthur, founder of DeFiance Capital, has voiced concerns about cryptocurrency market manipulation. He argues that collaboration between project teams and market makers to artificially inflate prices operates as a ‘black box,’ making it unclear whether coin price fluctuations are driven by genuine demand or manipulated for personal gain. Arthur criticizes both centralized exchanges (CEX) for failing to act on these practices, allowing them to flourish. He points out the impact of this manipulation on investor confidence, highlighting how inferior coins are gaining traction at the expense of superior ones. Additionally, he cites recent token generation events (TGE), where many coins have experienced significant price drops after launch, leaving investors vulnerable.