According to CoinMeta, the U.S. Securities and Exchange Commission (SEC) has summoned several major Wall Street banks to obtain more information regarding the near-collapse of a hedge fund. The regulatory agency is investigating the fund's trading activities, leverage usage, and its communications with Goldman Sachs, JPMorgan Chase, Citibank, and Bank of America. The fund experienced a severe sell-off at the end of July, plummeting from approximately $45 billion to around $10 billion. The fund was managed by a former researcher who was forced to liquidate a large portion of its concentrated positions due to losses, which led to multiple margin calls. A financial institution acquired these positions at a discount of about 10% and stated in a letter to investors that it had mitigated about 80% of the related risks. The information request does not imply that these banks or individuals are accused of any misconduct.