Crypto Craze: Markets Rigged Like a Three-Legged Race? Click Here to Find Out!

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Well now, ain’t it a curious sight when Arthur Cheong, the head honcho at Defiance Capital, starts rattlin’ his proverbial sabre about all them scallywags in the crypto waters! This fella’s pointin’ fingers, claimin’ that the good ol’ crypto market’s bein’ juggled and manipulated like a set of circus balls by crafty projects and their market-making pals. 🎪

In his grand indictment, he alleges these characters are keepin’ token prices afloat like a hot air balloon, all while centralized exchanges (CEXs) are standin’ by with their thumbs firmly lodged in their pockets. Can you imagine? The very gatekeepers lettin’ the rascals run amok! 😏

Cheong Says: Ain’t No Sense in this Market! 🧐

On the merry day of April 14, this Cheong fella took to the venue known as X, proclaimin’ that the whole liquid crypto market looks like a “complete black box.” I reckon that’s as good as sayin’ it’s a place where the good folks are busy cuttin’ deals behind closed doors, pullin’ the strings to make prices dance to their tune.

“Whether the price is stirrin’ from true demand or just a mirage conjured by colluding tricksters,” he uttered, “is as murky as the waters after a storm.” 🌪️

He didn’t hold back on the CEXs neither, accusing them of turnin’ a blind eye to what might as well be a circus act! Poor trust in this altcoin amusement park is makin’ it harder than ever to spot the shiny prizes among all the lemons. 🍋

As for them token generation events stirrin’ up dust for 2025, Cheong’s givin’ a stern wag of the finger at the prices, claimin’ that many coins are takin’ a nosedive, like a cow jumpin’ over the moon—down between 70% and 90%! Talk about a rough ride for buyers! 🎢

He threw down the gauntlet, warnin’ that unless the big wigs in crypto get their act together, the future’s gonna be a wild, unsafe frontier for any serious investor hopin’ to strike gold.

MANTRA Crash: A Potent Brew of Drama! 🍵⚡

Now, just the day before Cheong’s sermon, the fateful hand of destiny struck down the MANTRA’s OM token like a lightning bolt, watchin’ it skedaddle down by 90% quicker than a rabbit in a hat trick! John Patrick Mullin—one of the big cheeses of said protocol—claimed it was the forced liquidations by them CEXs causin’ the ruckus. 🤔

But lo and behold! The blockchain can’t lie, and it spoke of peculiar doings in the days prior to the big flop! Reports from the analytics wizards at Lookonchain indicated that 17 wallets sent a whopping 43.6 million OM tokens to exchanges. Seems like them wallets had some cozy ties to Laser Digital, a known player in the scene, stirrin’ up whispers of insider shenanigans. 😮

Then we’ve got the whale watchers over at Spot On Chain, who saw those big fish movin’ 14.27 million tokens to OKX just ahead of the fall. They had just shelled out over 84 million OM for a jaw-droppin’ $564.7 million in March! Sounds like a recipe for a grand ol’ sell-off, don’t it? 🦈

If that’s not enough theatrics for ya, consider the Libra token, which galloped into headlines after the Argentinian President Javier Milei threw his support behind it. It shot up to a frothy $4 billion before crashing down faster than a lead balloon—wiping out millions in a heartbeat! The whole circus is now under withering investigation by the country’s Chamber of Deputies. 🎭

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2025-04-14 21:26