3AC was considered the most important fund in crypto, while Archegos was just one of many in TradFi. However, there are a few parallels between the firms worth noting. First, the numbers are shockingly similar, if not exactly comparable. The second parallel is more important: In the 2010s, fancy investment bankers made the same utterly brain-dead sort of bets as the wild-eyed psychos who (presumably) run money in crypto.
Source: https://www.coindesk.com/layer2/2022/10/12/what-credit-suisse-and-three-arrows-capital-have-in-common/?utm_medium=referral&utm_source=rss&utm_campaign=headlines