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Evening Standard
Evening Standard
Business
Lan Yue

It was the end of easy money that took the shine off tech in 2022

Crypto FTX Meta Microsoft Nvidia US Federal Reserve

The arrest of FTX Founder Sam Bankman-Fried is surely the apotheosis of a hellish year for the tech sector, and crypto in particular. 

Yet just eighteen months ago, such a fall from grace would have been unimaginable. A pandemic boom yielded heady new valuations, transforming the ‘FANGs’ - the four best known US tech stocks - into the ‘MANNGMAT’ eight.

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