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Re:Bill Hwang of Archegos Capital lost $20B in two days by valuearb on Wednesday May 12, 2021 @02:21PM (#27133471)
Didn’t happen in that article. Fed providing liquidity wasn’t specific to hedge funds at all.

“ It remains unclear how big of a role hedge funds played in March’s meltdown — even how many and which funds were involved remains hazy. ”

Re:Bill Hwang of Archegos Capital lost $20B in two days by turkeytotal on Wednesday May 12, 2021 @03:49PM (#27134377)
Specific or not (yes many different types of institutions can access these markets), hedge funds are known for taking highly leveraged bets with this overnight cash. There is a huge market for sponsored repo trades.

Hedge funds were most certainly a part of this problem, and were bailed out.