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Anyone else curious to see what terms Three Arrows Capital was offering? For seemingly everyone in crypto to have such significant exposure to them, it looks l
by bluelightning2k 4y ago
Anyone else curious to see what terms Three Arrows Capital was offering?
For seemingly everyone in crypto to have such significant exposure to them, it looks like the entire industry was funneling retail funds into 3AC.
Maybe some of these clear ponzi schemes offering 20% yield were themselves promised 20.5% yield by 3AC.
It's an interesting take. Because it kind of lets everyone off the hook.
Wild speculation here BUT...
If I'm a token and I offer investors 20% but loan to 3AC at 20.5% and they seem credible, I can semi-credibly blame their unexpected default.
For their role as a hedge-fund 3AC can buy tokens with money loaned from those same tokens, pay dividends as they rise and simply fold as they fall.