Coinbase – The first crypto firm in the 2022 Fortune 500

Early today, FORTUNE revealed the 68th 2022 FORTUNE 500 annual list for all the leading and largest companies in the U.S. Interestingly, the ranking of these corporations depends on the revenue rate for the 2021 fiscal year. One among the list is Coinbase, largest cryptocurrency exchange in the United States. 

Furthermore, FORTUNE shares the difference of over 19% spike in the revenue threshold for FORTUNE 500 list for 2022. In addition, the profit rate is $6.4 billion compared to last year. More so, the companies in the top 500 list holds the pride for representing 2/3 of the U.S market. 

To be more interesting, all the 500 companies in the list are empowering the U.S marketplace. As a woman it is proud to share that among the FORTUNE 500, 44 companies are managed by women CEOs—an inspiring fact. 

Coinbase enters 2022 FORTUNE 500

Significantly, Coinbase is ranking in 437th position and proudly presents as the first cryptocurrency company. Operating as the largest crypto trading platform in the U.S marketplace, Coinbase enters the list despite the bearish trend. 

According to CoinMarketCap, Coinbase is in the top three positions, holding the third place. Additionally, the overall market cap of the exchange is more than $1 billion, thereby leading the U.S crypto space. Besides, Coinbase is also remarkable to be the leading cryptocurrency exchange due to its high trading volume. 

As a note, the addition of Coinbase in the top 500 list might surprise the viewers. Besides the bearish market conditions, Fortune lists Coinbase in the FORTUNE 500. This is because of the evaluation of the 2021 revenues of the company. As per Fortune data, Coinbase’s 2021 revenue value was $7.8 billion. 

However, Crypto plunge continues and trading volumes are falling across all exchanges. Thus the current crypto winter has affected the revenue of Coinbase. Due to this, the revenue reflected a downfall from $5.6 billion from $6.7 billion.

Anyhow, Coinbase owns the name to be the first cryptocurrency company in the 2022 FORTUNE 500 list.