This week, Aposto Europe publishes Year in Review issues where they wrap up the developments through in 2022.
2022 in Review: Sports & Culture
• Swiss tennis legend Roger Federer has retired after a 24-year career filled to the brim with success. The 41-year-old player announced the news by posting a recording of himself reading a heartwarming letter, which he ended with: “Finally, to the game of tennis: I love you and will never leave you.”
2022 in Review: World & Politics
• In the Netherlands, a new four-party coalition government took office with Mark Rutte as prime minister.
• In Hungary, Viktor Orbán was elected prime minister for the fourth time with 57% of the vote.
• In Serbia, President Aleksandar Vučić won the presidential elections for the second time. Vučić became the first person to be elected president of the country twice.
• Emmanuel Macron, the candidate of the Republican March Party, won the presidential elections in France with 58.2% of the vote.
• 2022 was a year of political instability in the United Kingdom. After Prime Minister Boris Johnson resigned, Liz Truss, who was elected to replace him, stayed in office for only 44 days and then resigned. Rishi Sunak was elected PM after Truss—who became the shortest-serving prime minister in the history of the kingdom.
2022 in Review: Tech, Crypto & Startups
• Bitcoin has lost nearly two-thirds of its value, falling from above $45k to slightly above $15k following the terraUSD and FTX scandals.
- TerraUSD (UST), an algorithmic stablecoin, and its sister token Luna, once worth a combined $60 billion in market cap, collapsed entirely; with Terraform Labs founder Do Kwon going into hiding in Serbia, according to South Korean officials who charged crypto-fugitive Kwon with fraud and breaches of South Korea’s capital markets law.
🎄 2022 in Review: Economy & Markets
This year was just one of 5 in the last 100 years where both US Treasuries and the S&P 500 finished in the red. The 2-10 Treasury yield curve saw its biggest inversion in about four decades, signaling increasing concerns about a potential recession.
- Indices: The NASDAQ-100 index has lost more than 30% of its value in 2022, even as the Dow posted its largest monthly gain since 1976 in October. IT stocks from the S&P 500 were down 27% for the year, while communications services stocks were down more than 40%.
- Crypto: After hitting its all-time high in 2021, Bitcoin —long considered the "safe" crypto— fell by more than 75% in 2022.
2022 in Review: Business
• Porsche became Europe’s most valuable automaker, overtaking parent Volkswagen after the automaker's successful initial public offering (IPO). In fact; Porsche attracted so much demand for its IPO, almost half the investors that put in orders were not allocated shares in the deal. Just a week after the IPO, with its total value reaching €82.7 billion, Porsche has overtaken Volkswagen’s valuation of €78.8 billion.