According to the Wall Street Journal, the S&P 500’s information-technology sector has dropped 20% in 2022, its worst start to a year since 2002. Its gap with the broader S&P 500, down 14%, is the largest since 2004. Some investors, haunted by the 2000 dot-com bust, are bracing for bigger losses ahead. The declines have prompted investors to pull a record $7.6 billion out of technology-focused mutual funds and exchange-traded funds this year through April.
In the spring of 2025, as Easter dawns with its promise of renewal and resurrection, Changpeng Zhao—known to the crypto world as CZ—stands as a figure both fallen and reborn. Once the towering architect of Binance, the world’s largest crypto exchange, Zhao’s journey mirrors the Easter narrative: a descent into legal purgatory followed by a reemergence into the public eye.