Five Things You Need to Know to Start Your Day

Archegos unwind continues, Coinbase IPO, and Wall Street earnings season kicks off.

About $2 billion of stocks tied to the Archegos Capital Management blowup were sold by Credit Suisse Group AG in the second such block trade by the lender. The amount of money set aside at the bank for bonuses has been slashed by hundreds of millions of dollars in order to limit the hit to the bottom line from the Archegos implosion. The wider implications for the finance industry are starting to emerge, with both banks and regulators looking at risks involved in lending to hedge funds and family offices.