Coinbase, America’s Leading Exchange, Becomes First Crypto Firm to List on Fortune 500

Coinbase, a major US exchange, has become the first crypto company to enter the Fortune 500, generating billions of dollars in revenue.

Coinbase Global (COIN) generated more than $7.8 billion in revenue in 2021, and COIN #437 Fortune’s ranking of the 500 largest US companies by revenue.

Coinbase is the first cryptocurrency company to join this list, announced on Monday, and first went public on the Nasdaq in April 2021.

Fortune Editor-in-Chief Alison Shontel say Coinbase was one of the few “pandemic winners” to make a profit despite the “bizarre circumstances” of its second year of global pandemic.

Coinbase’s achievement is a milestone for the company, but its $7.8 billion in revenue is insignificant compared to Walmart, the No. 1 Fortune 500 company with $573 billion in revenue.

Coinbase CEO Brian Armstrong predicts that Coinbase and the cryptocurrency space in general will continue to grow, and recently predicted that the cryptocurrency economy will explode to 15% of global GDP in the next few years.

“I think this is similar to the early days of the Internet, where we saw the birth of e-commerce in the late 90s or early 2000s and now, 20 years later, we saw the birth of e-commerce. That’s about 15% of global GDP.

And if you fast-forward 20 years from here, I think the cryptocurrency economy will probably make up a significant portion of the world’s GDP, 15%.”

Armstrong also believes that businesses will adopt cryptocurrencies in the future to the same extent that they are adopting the Internet today.

“In fact, I think most companies will use cryptocurrency in some way in the future in the same way that most companies use the internet today.”

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