CRYPTO SHADOW BANKING: Celsius CEO Arrested as SEC, CFTC and FTC Sue the Bankrupt Crypto Lender

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Crypto shadow banks such as Celsius borrowed & lent on an un-collateralized basis. Celsius was outside the requirements of fully licensed banks, which have capital reserves to cover losses from bad loans or available liquidity in case of a bank run. The saga around the bankrupt crypto shadow banks continues and until we as an industry resolve these issues, we can expect the ongoing nuclear crypto winter to continue.