They are defining the spread. The price is the bid/ask on their app, so it's whatever they want for a few seconds.
Long term they can't manipulate. But for an hour, they can literally lock out buyers.
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No, they can't. If they did on scale, they would be ftx or blockfi or any other scammer company.
The game theory isn't in there.
There is no benefit to a company doing this against their users.