Why you don't work in the bank. "Primitive".
Love is pride.
Topic: Bitcoin is bad / Bitcoin is High risk .... well what about Archegos? (Read 311 times)
August 07, 2021, 02:45:15 PM
August 08, 2021, 04:08:43 AM
Bank lend money to everyone who eligible, I think bank don't really get any risk because bank don't really care about the company will be success in the future or not, bank will still get income from the interest. I personally think that this system is not healthy, I bank and companies who lend money from bank should sharing the risk and profit, i think it's more fair. I have different point of view about bubble, I pretend bubble only happen in bullish market so when when there is a bullish market many people have very big enthusiast to buy bitcoin then make the price overvalued for short term then the bubble burst at bearish market. For me that is what I call bubble. When we see the bitcoin price chart for biggest time frame then we will know that the price is tend to rise, I think it is a proof that risk in bitcoin investment is not high. We only need to hold, sell and buy in the right time.
August 07, 2021, 03:59:55 PM
Sometimes I think that bitcoin fixes everything. But it is possible if the money is managed properly.
For example, a collapse like that of Archegos Capital would not have occurred if capital flight had been prevented. There was a lack of control, I think. I have read that Bill Hwang, the founder of Archegos Capital, made large donations to his foundation The Grace and Mercy.
I do not disagree in donating but handling large amounts of money that belong to other people is a great responsibility, in the case of his company he had to take into account the reserves to avoid future losses.
For example, a collapse like that of Archegos Capital would not have occurred if capital flight had been prevented. There was a lack of control, I think. I have read that Bill Hwang, the founder of Archegos Capital, made large donations to his foundation The Grace and Mercy.
I do not disagree in donating but handling large amounts of money that belong to other people is a great responsibility, in the case of his company he had to take into account the reserves to avoid future losses.
Quote
The Archegos Capital Management boss donated technology stocks - including Amazon, Netflix and Facebook shares - to The Grace and Mercy Foundation that would be worth nearly US $ 950 million today.
https://amp.scmp.com/magazines/style/luxury/article/3134631/bill-hwang-wall-street-investor-who-lost-us20-billion-days
https://amp.scmp.com/magazines/style/luxury/article/3134631/bill-hwang-wall-street-investor-who-lost-us20-billion-days
August 07, 2021, 02:07:52 PM
Actually, these hedge funds claim themselves to be risky, no hedge fund has ever said that you can invest with us at zero risks, it's just that when you are investing in bitcoin you are investing in technology or an asset class that hasn't been into existence from too long. While traditional markets have been here for years. It doesn't make anything bad or good but just risky and highly risky. also if you see percentages, Nomura boasts of a total asset base of 600 Billion USD while Credit Suisse has a total asset base of more than 1.6 Trillion USD so in front of that this loss looks peanuts to me isn't it? It's just like 1% of their total AUM so I don't think it's a really big deal.
You try NEXO.
Super fast loading web page.
First "shit".. "Licensed & regulated digital assets institution
View Licenses".
If it means nothing to you. I would like to have them coupled directly with tax as goes for my stocks. Self reporting.
So I don't get caught.
August 07, 2021, 02:03:36 PM
Actually, these hedge funds claim themselves to be risky, no hedge fund has ever said that you can invest with us at zero risks, it's just that when you are investing in bitcoin you are investing in technology or an asset class that hasn't been into existence from too long. While traditional markets have been here for years. It doesn't make anything bad or good but just risky and highly risky. also if you see percentages, Nomura boasts of a total asset base of 600 Billion USD while Credit Suisse has a total asset base of more than 1.6 Trillion USD so in front of that this loss looks peanuts to me isn't it? It's just like 1% of their total AUM so I don't think it's a really big deal.
August 07, 2021, 01:27:52 PM
Bitcoin is great, i don't understand why you don't like it. You hate it maybe because you are not the one who can control it or because you don't own a lot of it. Bitcoin has it risks like every investment.
August 07, 2021, 12:30:02 PM
Let's be rational for a moment and guess what??
We all know that it's super volatile.
We all know that it's a high risk investment.
We all know about the price fluctuations.
But we all still choose to invest in it.
-Why ??
We are not getting such opportunities anywhere else. The fact is even if it's a high risk investment, we are making profits accordingly, that's what makes it more special.
You can always follow the market, be extra careful and at the end of the day you can nail it! All you have to do is : stay a little safe and gain a lot of experience.
I feel like people don't realize that "If they don't take any chances, they are going to be struck in their financial situation right now"
(Plus Don't regret later when the price is excessively high!!)
We all know that it's super volatile.
We all know that it's a high risk investment.
We all know about the price fluctuations.
But we all still choose to invest in it.
-Why ??
We are not getting such opportunities anywhere else. The fact is even if it's a high risk investment, we are making profits accordingly, that's what makes it more special.
You can always follow the market, be extra careful and at the end of the day you can nail it! All you have to do is : stay a little safe and gain a lot of experience.
I feel like people don't realize that "If they don't take any chances, they are going to be struck in their financial situation right now"
(Plus Don't regret later when the price is excessively high!!)
August 04, 2021, 02:00:22 AM
I have never trusted any bank from the unset. The go as far as investing our deposit and most times when the investment turns out to be losses the incure a compulsory charge on their customers then back it up with a customized name. I rather trust my fund in bitcoin even though it's price isn't stable but I'm sure it's more secure on the blockchain network than in the traditional banking sector
August 04, 2021, 01:37:07 AM
bitcoin is indeed risky if you invest here, the heaviest risk is losing your private key and being hacked our account, but banks also have risks like in my country, there is one bank affected by liquidation, funds owned by customers do not return, I don't know. finished direction. between banks and bitcoin all are equally risky
August 03, 2021, 11:17:26 AM
In my opinion, BTC is high risk as the value increases and decreases day by day in the market and this puts some of our assets at risk. On the bank's side, they can be a stable currency like USDT which is a stable value, but if you put your savings in the bank and earn interest, over time that money will go away. value.
August 03, 2021, 10:59:20 AM
as long as i play in bitcoin, i have never been disappointed by bitcoin, i have also never been cheated by bitcoin, so if someone says bitcoin is bad, i really don't believe it, actually if we have been in any business, of course the risk will await us,, actually the risks we face are lighter, compared to the benefits we get from bitcoin,
August 02, 2021, 01:33:03 AM
if you want your money to be safe and not stolen, and there is no risk, then keep your money in the bank, but you must know, if you keep your money in the bank, you will definitely never get any profit, and your money will definitely managed for their business interests, but if you store it in bitcoin, it may be a little risky, but you can manage your own money, and habits if we keep it for a long time, profits will definitely await you.
August 01, 2021, 11:11:13 AM
I can't say how it is in the rest of the world, but in the EU, citizens' savings are only insured up to €100 000, which is, let's say, good for all those who have no more money. This is something we can say is positive about banks, although theory is one thing and practice is quite another. I want to say that on paper some things may look very convenient, but when words need to be put into action problems arise.
We can therefore ask the question of whether it is safer to have €100 000 in a bank or the same amount in a crypto non-custodial wallet? For some people, the risk is certainly too great to decide on the latter - because it is not easy to be your own bank, too many people are still not ready for such responsibility.
We can therefore ask the question of whether it is safer to have €100 000 in a bank or the same amount in a crypto non-custodial wallet? For some people, the risk is certainly too great to decide on the latter - because it is not easy to be your own bank, too many people are still not ready for such responsibility.
That's 100k per bank account though, if I'm not mistaken, so you could presumably open a new account per bank. And I've lived through one Asian crisis (late 90s) where in my country we lost about 50 banks (today there are only about 15 or so, as a result of mergers and takeovers when many independent banks crashed and burned) and my own family members were all reimbursed their losses through similar deposit guarantee schemes (our state lost ALL its banks).
It's definitely not easy to be your own bank. And far too often I've seen proof that people simply aren't ready to take responsibility for themselves. I know my own experiments with my kids have proven they're not (lost private keys haha).
August 01, 2021, 11:05:38 AM
Previously I never knew and didn't pay much attention to archegos but some time ago I read an article which basically when I saw the system implemented by archegos was very good and put family first. but when I looked at all the news I saw that there were two giant banks namely Nomura and Credut Suisse whose shares fell drastically due to this archegos and was listed according to The Wall Street Journal, within a few days, losses at Archegos Capital Management had triggered the liquidation of positions that were close to value. $30 billion, and this I think is absolutely fantastic.
and after that I became interested in reading articles and news related to this. and I remember the chats of my friends who suggested investing through fiat but after reading the news about archegos I am grateful that I made an investment here. because everything is of course the same risk but if you look at the feedback I think I'm more comfortable in bitcoin
and after that I became interested in reading articles and news related to this. and I remember the chats of my friends who suggested investing through fiat but after reading the news about archegos I am grateful that I made an investment here. because everything is of course the same risk but if you look at the feedback I think I'm more comfortable in bitcoin
August 01, 2021, 10:44:49 AM
actually bitcoin is not bad and there is no high risk, because actually bitcoin can be said to be safe and reliable, of all people who have invested in bitcoin must feel happy, because no one has ever been tricked into investing bitcoin, bitcoin risk is only a matter of price which sometimes goes up and down, only people who hate bitcoin say bitcoin is bad, and high risk..
August 01, 2021, 09:25:00 AM
If a bank loses so much money, I wonder who's going to pay for it. Surely, banks will avoid the situation when someone fails to withdraw money or pay for something, right? But even if it does, banks aren't safe, of course. I tried to look into how they work in my country, and the data is a little confusing. Apparently, only money that one puts 'on a deposit' (basically lends the bank to invest for annual profits) is what the bank uses for investments, but there's also this thing that the numbers in a bank account don't have physical representation in the bank. I wonder how it all works relatively well under such risky circumstances. And compared to banks, hodling BTC is way safer because you actually own the money if you have the private key.
August 01, 2021, 08:42:06 AM
I agree it's a shitty deal, but your fiat in a bank is anyway protected by your state's guarantee. Even if a bank collapses you should be all right -- it's when your state collapses ala Greece that you'll be in tears.
I can't say how it is in the rest of the world, but in the EU, citizens' savings are only insured up to €100 000, which is, let's say, good for all those who have no more money. This is something we can say is positive about banks, although theory is one thing and practice is quite another. I want to say that on paper some things may look very convenient, but when words need to be put into action problems arise.
We can therefore ask the question of whether it is safer to have €100 000 in a bank or the same amount in a crypto non-custodial wallet? For some people, the risk is certainly too great to decide on the latter - because it is not easy to be your own bank, too many people are still not ready for such responsibility.
July 31, 2021, 09:42:36 AM
Haven't really followed Gamestop or Archegos etc but yeah, the lack of transparency in all these different markets, be it swap or any kind of derivatives, and the insane amount of leverage they're allowing, plus the lack of collateralisation (or in Archegos case even using the same collateral at 6 different banks haha, damn). Not really news, until the victims are the ones who usually take advantage by gaming the system.
I agree it's a shitty deal, but your fiat in a bank is anyway protected by your state's guarantee. Even if a bank collapses you should be all right -- it's when your state collapses ala Greece that you'll be in tears.
Bitcoin should be a hedge against that, and against fiat devaluation, but I wouldn't recommend all in to anyone, not when people be losing their private keys and keeping their BTC on exchanges!
I agree it's a shitty deal, but your fiat in a bank is anyway protected by your state's guarantee. Even if a bank collapses you should be all right -- it's when your state collapses ala Greece that you'll be in tears.
Bitcoin should be a hedge against that, and against fiat devaluation, but I wouldn't recommend all in to anyone, not when people be losing their private keys and keeping their BTC on exchanges!
July 31, 2021, 07:13:53 AM
Bitcoin Always High Profit. But People already entering Bitcoin or Blockchain Speech.Bitcoin Is Futher Money in World.People always interested Bitcoin day by day. Money Bitcoin Not Except but The Country Policy maker Don't Know How Work Bitcoin In Global World.
July 31, 2021, 05:35:28 AM
Money saved in the bank is not actually risky or bad, it is a personal decision to make whether or not to save with the banking sector. Beside whichever way we view it, one can not totally avoid the banking system completely. Many people do not know the actual power buying a digital asset as Bitcoin is the reason they FUD on it.
It is impossible for us to completely leave the bank, all sectors of the economy always need a bank to save or borrow, in my opinion this does not matter, the presence of bitcoin is only an alternative transaction system not to replace fiat.
It is the best alternative.I can for example in an imaginary scenario send 1 million Bitcoins to anyone in the planet that has a Bitcoin wallet for receiving the money and not be asked questions about this transaction from no one.This is the strongest point of decentralization.Now go and send 1 million dollars from a bank account you own,you will be flooded with questions,where did the money come from,where it is going,why it is going and all the questions like that.By the banks elite are making us financial slaves so do not compare Bitcoin with banks,it was created in the first place to remove any third party,for me meaning Central Authorities like Central Banks.I am very happy that Bitcoin exists and I think is the best thing it have happened in this century we are living.
July 31, 2021, 02:33:30 AM
OP, you are doing Bitcoin a disservice by comparing it with a hedge fund that defaulted on margin calls, ser. Bitcoin is an entirely new asset class, thanks to the development of Proof of Work, and only made possible through Satoshi’s breakthrough use of it for Bitcoin.
July 31, 2021, 02:24:10 AM
Money saved in the bank is not actually risky or bad, it is a personal decision to make whether or not to save with the banking sector. Beside whichever way we view it, one can not totally avoid the banking system completely. Many people do not know the actual power buying a digital asset as Bitcoin is the reason they FUD on it.
It is impossible for us to completely leave the bank, all sectors of the economy always need a bank to save or borrow, in my opinion this does not matter, the presence of bitcoin is only an alternative transaction system not to replace fiat.
July 30, 2021, 01:26:18 PM
Money saved in the bank is not actually risky or bad, it is a personal decision to make whether or not to save with the banking sector. Beside whichever way we view it, one can not totally avoid the banking system completely. Many people do not know the actual power buying a digital asset as Bitcoin is the reason they FUD on it.
July 30, 2021, 01:16:35 PM
We hear this every day...... Shills and competitors and Crypto haters spewing FUD on the Internet.. telling everyone that Bitcoin is "Bad" and that it is a "High Risk" investment or their favorite.... Bitcoin is a Ponzi scheme/Bubble that are going to burst soon.
The skeletons in the cupboard of the FIAT Financial System are piling up and we see one of them in the form of the Archegos scandal! ( USD20 billion in liquid assets losses) --- So where did they get the money to invest... Answer : Banks !!! (Our Money)
Nomura reporting losses of USD2.9 billion and Credit Suisse taking a USD5 billion (approx.) hit. Morgan Stanley and UBS also had some losses.
Archegos was not a hedge fund..... It was a single family office, run by one individual. Why did Banks give money to such a risky financial operation? (Question is ..... Can we trust Banks to make the best decisions with the money that we deposit?)
You thought your money deposited in the Banks are the safest option? Guess again........
Sources : https://www.hedgeweek.com/2021/05/05/299729/archegos-collapse-shows-what-can-happen-when-leverage-misapplied
https://www.bloomberg.com/news/articles/2021-03-30/a-glossary-to-understand-the-collapse-of-archegos-quicktake
The skeletons in the cupboard of the FIAT Financial System are piling up and we see one of them in the form of the Archegos scandal! ( USD20 billion in liquid assets losses) --- So where did they get the money to invest... Answer : Banks !!! (Our Money)
Nomura reporting losses of USD2.9 billion and Credit Suisse taking a USD5 billion (approx.) hit. Morgan Stanley and UBS also had some losses.
Archegos was not a hedge fund..... It was a single family office, run by one individual. Why did Banks give money to such a risky financial operation? (Question is ..... Can we trust Banks to make the best decisions with the money that we deposit?)
You thought your money deposited in the Banks are the safest option? Guess again........
Sources : https://www.hedgeweek.com/2021/05/05/299729/archegos-collapse-shows-what-can-happen-when-leverage-misapplied
https://www.bloomberg.com/news/articles/2021-03-30/a-glossary-to-understand-the-collapse-of-archegos-quicktake
You should really distinguish between retail banks and investment banks because there is quite a big difference. In a boring old retail bank customer deposits should always be segregated and for this reason there are often government guarantees on a certain amount of funds - banks can only use deposits for what are considered very low risk investments, like putting them in certain bonds or lending it back out in mortgages. Investment banks, like the ones that you listed with losses, might be a department within the wider bank but their funds come from investors who want greater returns but as you see - they suffer greater downsides when things go wrong. It's always worth understanding your comparisons before getting over confident in your analysis.
July 30, 2021, 09:36:50 AM
(Question is ..... Can we trust Banks to make the best decisions with the money that we deposit?)
You thought your money deposited in the Banks are the safest option? Guess again........
You thought your money deposited in the Banks are the safest option? Guess again........
If Banks are the best institution to trust your money with, then no banks would have ever failed. So the answer is no! We have seen a lot of malpractices within banking sector in last few years, especially in my country! We have seen banks lending money to already stressed companies that eventually became NPA and the bank went on to the verge of closing down (Yes bank of India). So we can't blindly trust banks with our money!
But at the same time, bitcoin (or cryptos in general) is also very risky. So having 100% money on any particular asset class is always risky! Crypto is no different here!
July 30, 2021, 09:36:13 AM
We hear this every day...... Shills and competitors and Crypto haters spewing FUD on the Internet.. telling everyone that Bitcoin is "Bad" and that it is a "High Risk" investment or their favorite.... Bitcoin is a Ponzi scheme/Bubble that are going to burst soon.
The more they spread FUD on the internet and keep on expressing their hatred for crypto, especially Bitcoin under various high-risk pretexts, and things we have often found. It has shown how dangerous Bitcoin is for crazy people.
While on the other hand Bitcoin is something that we never ask to give what we want in life. I love the freedom inherent in all the functions and benefits of Bitcoin. Doesn't it make sense when more and more people start criticizing Bitcoin in a negative light, that they've pointed out there's a hidden gem they've been missing. Then move as one of the groups who do not like the existence of Bitcoin.
July 30, 2021, 09:26:22 AM
~snip~
What about them? It’s not the first or last time a fund loses its clients ’money, it certainly happens on a daily basis - although clients don’t want to tarnish their reputation with public announcements - no one is happy to turn out stupid and lose money.
Banks should not be considered honest entities, because they operate in accordance with the laws of a particular country - and if the country is corrupt, then banks also use it to operate in the gray zone as much as possible. Banking scandals like HSBC or Danske Bank show how much they are willing to play dirty for profit. But that doesn’t mean Bitcoin is a successful solution for all people, because the world of cryptocurrencies is full of scams, and many people are too naive to be able to defend themselves against it.
Besides, this is old news -> Archegos Capital Management - How to burn $20 billion overnight!
July 30, 2021, 06:07:29 AM
those who hate bitcoin are definitely people who can't control bitcoin under their control, bitcoin is safe and reliable,
Well, being overly optimistic is also not a good practice. There's a good reason why people should be careful with their investment, including bitcoin. Safe and reliable can be interpreted in many ways, and I'm sure most skeptics will point out its volatile nature and said that a highly volatile asset is not safe and reliable at all. It's true to some extent but doesn't mean you should just disregard it. In short, just like other risky investments, the best way to 'play' it is to use the money you can afford to lose and trade with a good strategy.
July 30, 2021, 05:59:23 AM
those who hate bitcoin are definitely people who can't control bitcoin under their control, bitcoin is safe and reliable, so everyone now has invested their money in bitcoin, and they make it an asset to get profit in the future, now some people have withdrawn money they are in the bank, because they know the bank can't make any profit at all..
July 30, 2021, 05:46:50 AM
Archegos was not a hedge fund..... It was a single family office, run by one individual. Why did Banks give money to such a risky financial operation? (Question is ..... Can we trust Banks to make the best decisions with the money that we deposit?)
You thought your money deposited in the Banks are the safest option? Guess again........
You thought your money deposited in the Banks are the safest option? Guess again........
Because "risk" is a word that does not appear in the banks' dictionary. They can put money on "safe" investments and get small returns or gable on "risky" assets and get big returns or bail out from government. So there is not risk for them.
Are my money safe in banks? Yea. If bank will lose them government will print them back causing inflation and everyone will pay for it in devaluation of their savings. No matter where you store your money. If its Fiat - you will pay for all mistakes made by elites.
This is exactly why Satoshi Nakamoto created Bitcoin.. (Remember the reference he made to the second Bailout that governments made to the Banks with taxpayers money in the first Block that was mined?)
Satoshi Nakamoto knew that Banks did not learn a lesson from their mistakes, because they have repeated those mistakes before and they know if they fail..... governments will use taxpayers money to bail them out.
July 30, 2021, 04:36:35 AM
I don't think it will be our fault anymore if we deposit our money into banks and lose the investments they have. There's always going to be that insurance whenever something happens, right? The FDIC or wherever you are. As a client, we don't need to do anything but know that they will carry that loss and still be there whenever you need transacting.
This collapse makes it even harder for people to know Bitcoin and know that anything can happen. One wrong move in the wrong direction, you are already going to lose everything. I hope whoever is responsible for this, understand what he did and possibly recover from it.
This collapse makes it even harder for people to know Bitcoin and know that anything can happen. One wrong move in the wrong direction, you are already going to lose everything. I hope whoever is responsible for this, understand what he did and possibly recover from it.
July 30, 2021, 04:14:40 AM
you say bitcoin is bad and high risk, maybe because you hate bitcoin, or you can't control bitcoin, that's why you say so,, indeed saving money in the bank is no risk, but you the bank can use the money they save for your business, while those who deposit in the bank do not get any profit, in contrast to bitcoin, indeed bitcoin has risks, but the profits we get, can be said to be high too..
July 30, 2021, 03:54:59 AM
You can trust them just to keep your money but it's on them where they're going to invest the money that we depositors have deposited. So if you feel that you don't like how they use the deposited money and where they're allocating it to their investments.
We've got our own back where we can put our money and has a better value in returns than the banks give us with our deposits.
We've got our own back where we can put our money and has a better value in returns than the banks give us with our deposits.
I wouldn't say that is a trust because they are re-investing it without your own consent isn't it? And that's why majority doesn't want to used banks because of this one. When I learn about this things, I started to not like them at all, plus my bad experience with them, (can't open an account etc etc).
So I will say that I don't like them at all, and now that we have options like bitcoin to store our wealth, then I guess we only need them if we wanted to convert our btc->fiat.
July 30, 2021, 03:18:38 AM
You can trust them just to keep your money but it's on them where they're going to invest the money that we depositors have deposited. So if you feel that you don't like how they use the deposited money and where they're allocating it to their investments.
We've got our own back where we can put our money and has a better value in returns than the banks give us with our deposits.
We've got our own back where we can put our money and has a better value in returns than the banks give us with our deposits.
July 30, 2021, 02:21:20 AM
Archegos was not a hedge fund..... It was a single family office, run by one individual. Why did Banks give money to such a risky financial operation? (Question is ..... Can we trust Banks to make the best decisions with the money that we deposit?)
You thought your money deposited in the Banks are the safest option? Guess again........
You thought your money deposited in the Banks are the safest option? Guess again........
Because "risk" is a word that does not appear in the banks' dictionary. They can put money on "safe" investments and get small returns or gable on "risky" assets and get big returns or bail out from government. So there is not risk for them.
Are my money safe in banks? Yea. If bank will lose them government will print them back causing inflation and everyone will pay for it in devaluation of their savings. No matter where you store your money. If its Fiat - you will pay for all mistakes made by elites.
July 30, 2021, 12:46:10 AM
We hear this every day...... Shills and competitors and Crypto haters spewing FUD on the Internet.. telling everyone that Bitcoin is "Bad" and that it is a "High Risk" investment or their favorite.... Bitcoin is a Ponzi scheme/Bubble that are going to burst soon.
The skeletons in the cupboard of the FIAT Financial System are piling up and we see one of them in the form of the Archegos scandal! ( USD20 billion in liquid assets losses) --- So where did they get the money to invest... Answer : Banks !!! (Our Money)
Nomura reporting losses of USD2.9 billion and Credit Suisse taking a USD5 billion (approx.) hit. Morgan Stanley and UBS also had some losses.
Archegos was not a hedge fund..... It was a single family office, run by one individual. Why did Banks give money to such a risky financial operation? (Question is ..... Can we trust Banks to make the best decisions with the money that we deposit?)
You thought your money deposited in the Banks are the safest option? Guess again........
Sources : https://www.hedgeweek.com/2021/05/05/299729/archegos-collapse-shows-what-can-happen-when-leverage-misapplied
https://www.bloomberg.com/news/articles/2021-03-30/a-glossary-to-understand-the-collapse-of-archegos-quicktake
The skeletons in the cupboard of the FIAT Financial System are piling up and we see one of them in the form of the Archegos scandal! ( USD20 billion in liquid assets losses) --- So where did they get the money to invest... Answer : Banks !!! (Our Money)
Nomura reporting losses of USD2.9 billion and Credit Suisse taking a USD5 billion (approx.) hit. Morgan Stanley and UBS also had some losses.
Archegos was not a hedge fund..... It was a single family office, run by one individual. Why did Banks give money to such a risky financial operation? (Question is ..... Can we trust Banks to make the best decisions with the money that we deposit?)
You thought your money deposited in the Banks are the safest option? Guess again........
Sources : https://www.hedgeweek.com/2021/05/05/299729/archegos-collapse-shows-what-can-happen-when-leverage-misapplied
https://www.bloomberg.com/news/articles/2021-03-30/a-glossary-to-understand-the-collapse-of-archegos-quicktake
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