ICP price manipulation

When I first started researching ICP, it seemed to me that something about the price at launch didn't click. It didn't feel right that a brand new crypto would launch at $750 and a high market cap than even Ethereum If you use Binance $2,000 price per token. Anyone who has been in crypto for more than a few years knows that this space is highly manipulated. So I decided to dig into you why ICP has lost so much value despite having some of the most impressive team and technology. What I found out is that FTX launched an ICP perp 4 days prior to the exchange launch which raised the price from $85 to $750 without even offering a spot for the token. Why is that? After the launch of the project, FTX continued with the perp and for some reason the perp always traded much lower than the spot on every exchange suppressing the price while huge amounts of ICP are borrowed and sold on other exchanges. This has been happening for the last 12 months. My question is this typical of crypto exchanges to do that for every token? Why does FTX have a perp for ICP and they don't have a spot? Why does Binance offer 20% APY on a token that is supposedly a failure? I also stumbled upon this video which kind of makes things a bit clearer. ICP price performance explained

I encourage anybody with an open mind to check it out.