October 2, 2022

The first crypto company to join the list recorded revenue of over $7.8 billion in fiscal 2021 and placed 437th.

Source: u.today
Source: u.today

Coinbase (COIN) has entered the Fortune 500, a ranking of the biggest U.S. companies by revenue, becoming the first cryptocurrency company to join the list.

The Nasdaq-listed crypto exchange posted revenue of over $7.8 billion in fiscal 2021 to place 437th in the 2022 list published Monday.

Having first listed on Nasdaq in April 2021, Coinbase has entered the Fortune 500 at the first opportunity.

The exchange was singled out by Fortune editor-in-chief Alyson Shontell as one of “several pandemic winners” that “thrived under the freakish circumstances of COVID” and flourished thereafter.

Retail behemoth Walmart (WMT) topped the ranking for the 10th straight year, with revenue of around $573 billion, followed by Amazon (AMZN) and Apple (AAPL), with figures of almost $470 billion and $365 billion, respectively.

The Fortune 500 represents two-thirds of U.S. gross domestic product, with revenue totaling $16.1 trillion.