$20 Billion to BROKE in 2 Days!! Bill Hwang's Archegos LOSS!!
Hey Guys!
Hope you are enjoying these green candles 🤩
I have an interesting video for you today. I will be looking at one of the biggest financial scandals of all time.
A market meltdown that led to a loss of over $20 billion in under 48 hours! A story about the hubris on wall street that seems to have only grown larger since the Financial Crisis.
It's a tale about a man that took excessive amounts of leverage in an equity swap market that was opaque and prone to volatility.
What's even crazier about this story is that the main protagonist was actually sanctioned by the SEC less than 10 years ago. Not to be deterred by the slap on the wrist, he decided to launch his own fund and take these massive leveraged bets on Asian stocks.
Bets that when they failed, they failed spectacularly. And it wasn't only the trader that was had billions on the hook from this meltdown. It was also those investment banks that bankrolled his trades.
The funny thing about this story is that none of it took place in the crypto markets. It's yet again an example of why the excessive focus on the inherent "risks" of cryptocurrency are nothing but a ruse to distract from stories like this.
Well, we won't stop pointing out this hypocrisy.
Hope you enjoy the video!
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⛓️ 🔗 Useful Links 🔗 ⛓️
Introduction To Archegos: https://en.wikipedia.org/wiki/Archego...
How Bill Hwang Lost 20 Billion Dollars: https://www.bloomberg.com/news/featur...
Who Is Bill Hwang: 
• How to Lose $20 B...
Where Is Bill Hwang Now: https://www.bloomberg.com/news/featur...
How Archegos Affected Big Banks: https://www.theguardian.com/business/...
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
