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by Tyler Durden Wednesday, Mar 31, 2021 - 09:44 PM Speaking to CNBC this morning, bitcoin billionaire and crytpocurrency preacher Mike Novogratz turned the table on those who mock bitcoin for being too volatile or for being an instrument of unhinged speculation, and instead pointed to Bill Hwang and his family office Archegos, pointing out the obvious: it wasn't bitcoin that nearly led to another systemic event - after all everyone is aware of the inherent risks of bitcoin - but rather a handful of relatively boring and low-beta media names that caused billions in losses for both Hwang and hi...

Dynamic Beta Investments This story is available exclusively to Insider subscribers. Become an Insider and start reading now. Andrew Beer is the founder of Dynamic Beta Investments, which manages over $400 million in assets. Beer explains how leverage has made the Archegos blow-up the "Frankenstein version of GameStop." He also shares how investors can capture hedge fund alpha without taking on too much risk. Nearly a week since the implosion of Archegos first spilled into public view, former "Tiger Cub" trader Bill Hwang's fam...

The dramatic implosion of Archegos Capital Management has turned the spotlight on family offices. These usually conservative financial institutions are effectively unregulated, but that can be risky. Archegos blew an estimated $10 billion hole in some banks, using leverage and derivatives. Family offices sound innocent, but one just blew an estimated $10 billion hole in some of the world's biggest banks. Bill Hwang's Archegos Capital Management was a large investment firm funding risky bets through lots of borrowing. But it was structured as a "family office", a type of financial institution ...