Crypto’s Dirty Secret: Offshore Exchanges—Bigger Casinos Than Vegas, Analyst Says

“The biggest casino in the world isn’t in Las Vegas; it is in offshore crypto exchanges, where billions get wiped out in a flash,” says Marty Party, a crypto analyst.

He claims that neither retail investors nor institutional spot buying drives crypto’s price action. Instead, offshore, unregulated futures markets are where the real power is.

People understand offshore centralized unregulated crypto exchanges manipulate the crypto markets in both ways, up and down. They make the bull and bear market. Their primary business is an unregulated unlicensed global crypto futures market (casino) and they sell bets to…

— MartyParty (@martypartymusic) March 7, 2025

Offshore Exchanges: 10x Vegas, 8x Sports Betting

He argues that these “offshore centralized” platforms run over 80% of crypto pricing, messing with markets through leveraged futures trading.

With over $100 billion traded daily, setting off $1B liquidations, these exchanges blow past the entire Las Vegas casino industry ten times over. They even leave global Sports Betting in the dust, handling eight times the volume.

Exchange Price Tricks

The crypto analyst says these exchanges use shady tactics to fake market trends. Since they control a huge chunk of the market, these platforms can push prices around to trigger liquidations and cash in on traders’ losses.

Here’s how it works: if traders are feeling bullish and bet on prices to go up (long positions), the exchanges push the price down to force those long positions to liquidate.

On the flip side, if traders are bearish and betting on prices to fall (short positions), the exchange can bump the price up to liquidate those positions. This rip-off behavior lets them make money no matter which way the market moves naturally.

Binance: Master of Volatility

“Their business is maximum pain,” Marty Party explained. “They don’t care about crypto. They care about the game.” This fake volatility turns off institutional investment and screws up the actual value of assets like Bitcoin, Ethereum, and Solana.

One big reason for this volatility is Binance’s perpetual contract market, which calls the shots for crypto pricing worldwide. Even pros struggle with these tactics as exchange-driven liquidation waves wipe out positions.

CFTC Needs to Step Up

While the thrill of leveraged gains gets traders hyped, the analyst insists that this unregulated gambling hurts crypto’s credibility. Unlike traditional stock markets, which have watchdogs against manipulation, offshore exchanges operate outside U.S. regulatory rules.

With crypto now part of national strategic reserves, the analyst urged the CFTC to get involved and regulate offshore futures markets, check into price manipulation, and push for changes.

Until then, these offshore “predatory casinos” will stay in the way of setting up a fair and free market.

Source