DeFiance Capital founder Arthur explores why leading DeFi projects and market makers have been colluding to manipulate token prices, leading to significant investor losses. He highlights the pattern of artificial price increases followed by rapid falls, which has left many investors struggling with market liquidation. Additionally, Arthur questions how centralized exchanges are responding to these market manipulations without taking a stand against such actions. He believes the collusion between projects and market makers creates confusion and undermines the true value of decentralization within the crypto ecosystem. The recent Mantra crash also suggests potential collaboration between market makers and project developers, leading to concerns about the overall integrity of the crypto market.