Archegos imploded and wiped billions off the market, turning the spotlight on the virtually unregulated family office sector industry. Experts spell out how the damage was done.

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 …

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