Coinbase Enters Fortune 500 List of Biggest US Companies

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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.

Read more: Coinbase Outlines Cost-Cutting Measures, Employee Grants Amid Weak Results and Crypto Rout: Report

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