They control the banks because they built the entire infrastructure from scratch, it was always just a scheme for them to enrich themselves. Crypto is more like gold, they can't control it, just look into the code and how it all works and you realize why nobody can control it.

However, they can sell fake paper bitcoin, just like they sell fake paper gold, thereby suppress the actual market price. It's a shitty practice they deserve to get hanged for but it doesn't mean they "control the asset". They're scammers, like the Nigerian prince but with more idiots who trust them.