$ 19,187.95
$ 1,070.78
$ 1.00
$ 0.451813
$ 0.322541
$ 1.00

Coinbase Makes History as the First Fortune 500 Crypto Company

Fortune 500 Adds Coinbase, Making it the First Time a Crypto Company to Join Fortune 500

American multinational business magazine Fortune has added Coinbase as their first crypto company in their annual “Fortune 500” list for 2022. Positioned in the 437th place, Coinbase joins Fortune’s 500 – thus making history as the first crypto company to do so.

Fortune lists these companies in the current year; however, their listings are based on their 2021 incomes, and that is how Coinbase earned its position, regardless of current battles caused by market downturns.

According to Fortune, $7.8 billion was the total amount of income of Coinbase in 2021. On Monday, Fortune Media reported that the profit threshold of the Fortune 500 list for 2022 was $6.4 billion, 19% more than last year’s limit.

Coinbase reported its first-quarter numbers showing a $1.6 billion in net profit and $430 million in a net loss. In contrast with last year’s net profit of $2.49 billion for the fourth quarter, it does show that Coinbase has had a difficult year so far.

The quantity of trading has significantly fallen due to the drop in crypto prices in the last six months. According to Barron’s report, as a result of “crypto winter,” Mizuho Securities – Japanese investment banking and securities firm – reduced its Coinbase profit estimates from $6.7 billion to $5.6 billion for 2022.

Coinbase’s Shares Market Performance

Coinbase shares are trading near all-time lows at $66 amid the market downturn. Earlier this month, they went down to as low as $40, 88% lower than their debut at over $328. 

Due to uncertainty in the market, the company will not be hiring at the normal pace. This was confirmed by Emilie Choi – President and Chief Operating Officer.

“Heading into this year, we planned to triple the size of the company. Given current market conditions, we feel it’s prudent to slow hiring and reassess our headcount needs against our highest-priority business goals.” – Emilie Choi

COO and President Choi stated that this was not the first market downturn Coinbase has witnessed, and despite that, they have come out even more powerful each time. She then reassures that Coinbase is “in a strong position” and has a “solid balance sheet.” 

In spite of the recent events in the market world, we will have to wait until 2023 to see if Coinbase will once again join Fortune magazine’s 500 list. This company has been listing the top 500 profit-generating companies since 1995. US retailer Walmart has been on top of this list for the past 10 years sequentially.

Also read:

Related News

Updates have been provided on the current service freeze and new recovery efforts were outlined by the company.

Potential Solutions Are Being Considered By Celsius

Strategic deals and liabilities restructuring are being explored by Celsius. Updates have been provided on the current service freeze and new recovery efforts were outlined by the company. On June 12th, all transitions, withdrawals, and swaps were put on pause by Celsius and as of now, the company is looking for ways to recover. “Important steps to preserve and protect assets and explore options” are being taken by the company, per

Read More »
As the withdrawal function remains halted, the company is continuing to engage with investors interested in the Recovery Value USD (rvUSD).

Withdrawal Resumption Plan Is Not Moving Forward, CoinFLEX Backs Down

Withdrawals will not be resumed as anticipated, following a halt last week, CoinFLEX announced. As the withdrawal function remains halted, the company is continuing to engage with investors interested in the Recovery Value USD (rvUSD). After the token sale is completely carried out, CoinFLEX will disclose the process for permitting withdrawals, stated CEO Mark Lamb. “Extreme market conditions and continued uncertainty involving a counterparty” led CoinFLEX to hit a pause

Read More »
Just recently, the company had to reduce over 1% of its global workforce, making Coinbase vulnerable to the current market crash.

Coinbase Looking to Expand In Other Countries

Following the layoffs and rescinding of employment offers, the cryptocurrency exchange Coinbase intends to grow deeper into Europe. The intentions to register in nations such as Italy, Spain, France, and the Netherlands, were announced by Nana Murugesan, vice president of the California-based crypto exchange. Countries such as Germany, Ireland, the United Kingdom, and even Switzerland, where the first employee was hired recently, already have Coinbase as a licensed crypto exchange.

Read More »

My Coins

$ 19,187.950.3%
$ 1,070.781.04%
$ 0.4518130.42%
$ 1.000.03%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy


Contact Us

For any question conatct us through:

Disclaimer: All information and materials on this website are for educational purposes only. does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: