Anyone else curious to see what terms Three Arrows Capital was offering?<p>For seemingly everyone in crypto to have such significant exposure to them, it looks like the entire industry was funneling retail funds into 3AC.<p>Maybe some of these clear ponzi schemes offering 20% yield were themselves promised 20.5% yield by 3AC.<p>It's an interesting take. Because it kind of lets everyone off the hook.<p>Wild speculation here BUT...<p>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.<p>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.