Kyle Bass’s Disastrous Hong Kong Dollar Short Got Bannon-Linked Cash

The SEC accused a company of misusing funds intended for a media company opposing China, with $100 million ending up in Kyle Bass's hedge fund. Bass's firm, Hayman Capital, made a leveraged bet against the Hong Kong dollar, expecting the currency's peg to the US dollar to collapse. This bet, based on potential US policy changes under the Trump administration, failed as the Biden administration maintained the status quo, resulting in significant losses for the fund.

What was the total loss percentage that Kyle Bass's firm experienced from their investment?

What was the outcome of Kyle Bass's investment strategy regarding the Hong Kong dollar?