{"id":61928,"date":"2022-05-24T14:03:26","date_gmt":"2022-05-24T11:03:26","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=61928"},"modified":"2025-09-05T15:02:06","modified_gmt":"2025-09-05T12:02:06","slug":"coinbase-enters-fortune-500-as-first-crypto-company","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/coinbase-enters-fortune-500-as-first-crypto-company\/","title":{"rendered":"Coinbase enters Fortune 500 as first crypto company"},"content":{"rendered":"<p>Coinbase becomes the first cryptocurrency company to enter the <a href=\\\"https:\/\/fortune.com\/fortune500\/2022\/search\/\\\">Fortune 500<\/a> list. The ranking ranks American firms by revenue over the past fiscal year.<\/p>\n<p>The crypto exchange, with revenue of $7.84 billion, ranked 437th. Coinbase posted a profit of $3.62 billion, up 1,024% year on year.<\/p>\n<figure class=\\\"wp-block-image\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/lh6.googleusercontent.com\/aBbH8Su3megxCDEFNRxFlLp34UfS5Ub-I4Evmc9fbaQW0984acIuKwcjrIccmnZkWzOsOULBjn3woXwEkn5Mb21V2I8dd9O2zKniDtBQoF2L-Jfh0eqqlfdEpb_KUVzomyaY5jLUnYCKjs9-xA\\\" alt=\\\"\u0411\u0438\u0442\u043a\u043e\u0438\u043d-\u0431\u0438\u0440\u0436\u0430 Coinbase \u043f\u043e\u043f\u0430\u043b\u0430 \u0432 \u0440\u0435\u0439\u0442\u0438\u043d\u0433 Fortune 500\\\"\/><figcaption>Data: Fortune.<\/figcaption><\/figure>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/block-posts-1-73-billion-from-bitcoin-sales-in-the-quarter\">Bitcoin-friendly<\/a> payment company Block (<a href=\"https:\/\/forklog.com\/en\/news\/square-to-rename-to-block-as-it-focuses-on-blockchain-projects\">formerly Square<\/a>) of Jack Dorsey ranked 208th with annual revenue of $17.66 billion.<\/p>\n<p>The ranking was led by retail giant Walmart, which posted revenue of $572.7 billion and profit of $13.7 billion.<\/p>\n<p>In the first quarter of 2022, Coinbase posted a net loss of $429.7 million. <a href=\\\"https:\/\/forklog.io\/coinbase-otchitalas-o-chistom-ubytke-v-430-mln-v-pervom-kvartal\/\\\">\u0447\u0438\u0441\u0442\u044b\u0439 \u0443\u0431\u044b\u0442\u043e\u043a \u0432 $429,7 \u043c\u043b\u043d<\/a>. The figure almost doubled analysts&#8217; expectations.<\/p>\n<p>Against the backdrop of a weak start to the year and a downturn in the cryptocurrency market, the company <a href=\"https:\/\/forklog.com\/en\/news\/media-reports-cost-cutting-at-coinbase-after-a-weak-start-to-the-year\">began to trim costs<\/a>.<\/p>\n<p>In early May, Mizuho Securities <a href=\\\"https:\/\/www.barrons.com\/articles\/coinbase-global-stock-cryptocurrency-51651681183\\\">cut Coinbase&#8217;s revenue forecast<\/a> for 2022 from $6.7 billion to $5.6 billion. The current Fortune 500 threshold stood at $6.4 billion.<\/p>\n<p>In April 2021, Coinbase went public via a <a href=\"https:\/\/forklog.com\/en\/news\/coinbase-shares-begin-trading-on-nasdaq-market-capitalisation-tops-100bn\">direct listing on Nasdaq<\/a>. On the first day of trading, shares closed at $328.28. As of writing, the stock was trading at about $65.44 in premarket.<\/p>\n<figure class=\\\"wp-block-image\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/lh6.googleusercontent.com\/Awegh_9dnVMozMttmw8vvBjkleX5i9OFp2RFGPw1AG6yLnZEyu-lQzeIajZEgA9TMQTMj7cSuYvYnJzR2ytjiq3SLqsM1PJSK0tw7spdieBIltk_gLRWw7_t0xeLCIgjrgzkb6AAiGTjnHe27w\\\" alt=\\\"\u0411\u0438\u0442\u043a\u043e\u0438\u043d-\u0431\u0438\u0440\u0436\u0430 Coinbase \u043f\u043e\u043f\u0430\u043b\u0430 \u0432 \u0440\u0435\u0439\u0442\u0438\u043d\u0433 Fortune 500\\\"\/><figcaption>Data: <a href=\\\"https:\/\/www.nasdaq.com\/market-activity\/stocks\/coin\\\">Nasdaq<\/a>.<\/figcaption><\/figure>\n<p>In April 2022, Coinbase stock fell <a href=\"https:\/\/forklog.com\/en\/news\/crypto-sector-shares-fell-more-steeply-than-bitcoin-in-april\">more than twice as much as Bitcoin&#8217;s price did<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase becomes the first cryptocurrency company to enter the Fortune 500 list. The ranking lists American firms by revenue over the past fiscal year.<\/p>\n","protected":false},"author":1,"featured_media":61929,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[138,1920],"class_list":["post-61928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-coinbase","tag-fortune"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/61928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=61928"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/61928\/revisions"}],"predecessor-version":[{"id":61930,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/61928\/revisions\/61930"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/61929"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=61928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=61928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=61928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}