[5] On March 26, 2021, Archegos defaulted on margin calls from several global investment banks, including Credit Suisse and Nomura Holdings,[6][7] as well as Goldman Sachs and Morgan Stanley.

"[15] Tiger Asia Management had previously pleaded guilty to insider trading of Chinese bank stocks in 2012 and paid a $44 million fine.

[16] On March 26, 2021, banks offering prime brokerage services to Archegos started to liquidate billions of dollars' worth of various stocks after it had failed to meet a margin call.

"[19] According to The Wall Street Journal, Goldman Sachs and Morgan Stanley were able to limit their losses relating to Archegos by acting more quickly than Credit Suisse and Nomura Holdings.

[20][21] On March 30, Mitsubishi UFJ Financial Group (MUFG) securities arm declared a $300 million loss in its EMEA operations linked to Archegos.

[23][24] On April 5, 2021, the Chair of the US Senate banking committee, Sherrod Brown, wrote to Crystal Lalime general counsel at Credit Suisse, as well as Nomura, Goldman Sachs and Morgan Stanley to inquire about "the implosion of Archegos Capital" and gave the lenders 14 days to reply.

Credit Suisse was mentioned by the Financial Times as "allowing the family office (of Hwang) to make highly leveraged bets on US and Chinese stocks".

[35] In July 2023, Credit Suisse (which had been acquired by UBS) was fined a sum of $387 million by US and British financial authorities for mismanagement related to Archegos.