The US Department of Justice has reportedly launched a probe into this spring’s dramatic implosion of Archegos Capital Management, which slammed some of the world’s biggest banks with more than $10 billion in losses. Federal prosecutors sent requests for information to some of the banks that conducted business with the massive but little-known family office run by disgraced financier Bill Hwang before its epic collapse in March, according to a Bloomberg report. Hwang relied on massive leverage and risky derivatives to take concentrated positions. When the massive bets he’d made on ViacomCBS and Discovery went south, he failed to meet...