Allegedly whales set the price on Binance and arbitrage bots equalize the price on every other exchange.
And this is based on what information? Sounds very theoretical
I only know of Coinbase. It doesn’t really matter how many exchanges there are, its about the capital, any way you spin it they have more capital then their customers so they set the supply and demand. When they lose a lot of customers, they just burn cash to drive the price up. That’s why they keep failing.
I think the fact you “only know of coinbase” proves you know very little about what you are talking about, and have formed an erroneous conspiracy theory based on inadequate knowledge.
I don’t want to be antagonistic, but I have heard of many exchanges as I perused these forums through the years. FTX, Mt. Gox, Binance. So what probably should have said was, “It’s the only exchange I know that is still operating that I as a PNC bank customer can use, that I know of.”