Shadow Banks Camouflaging as Cryptos

[ValueFirst]

I find the Shadow Bank Concept intriguing. According to Robert -CEO of Fluid Finance, there are many Shadow Banks camouflaging as crypto and he name Celsius as one, he argues that there are several ways to test if a project is a Shadow Bank including

Do you control your money?

Can you verify where your money is on-chain?

And can someone do what they want with your money

All these things Celsius could do. He said any project that meets this equation below will fail

Failure formula = Unrealistic business model + maturity mismatch + leverage

According to Robert, if you get all the above parameters in any project after you DYOR, then it's likely a shadow bank camouflaging as crypto, and its potential going to fail, depending on how much the tide goes out. He makes several arguments and bold statements in his article which you can read in full on medium https://medium.com/@fluid_fi/the-celsius-deception-b441cb62c265 [nofollow]

I find the Shadow Bank Concept very interesting and I thought to share it and see what others think about it.