In the magazine’s April/May 2023 edition, Fortune published the first-ever Fortune Crypto 40. According to Fortune Crypto Editor Jeff John Roberts, this benchmark rating is an acknowledgment that “the business, which was formerly characterized by crypto trading, is now significantly wider.” It names the top five firms in eight areas in the cryptocurrency space. “We honor a wide range of businesses—from VC firms to NFT shops to data companies to decentralized protocols—that have created major enterprises around blockchain technology.”
Although there are many lists, nearly all of them reflect the personal preferences of a small number of editors, and the majority of them place more emphasis on individuals than on businesses. Accordingly, there are currently no rankings for the cryptocurrency industry, according to the Fortune staff.
Fortune released Fortune Crypto 40
The Fortune Crypto 40 recognizes the following eight categories: Protocols, VC, NFTs, Data, Infrastructure, DeFi (decentralized finance), and TradFi (traditional finance). Better comparisons between comparable entities, such as venture capital firms and centralized crypto corporations, are made possible by this divide.
The protocol rankings saw Bitcoin fall behind Ethereum, with Polygon beating Solana to claim the third position. In the infrastructure competition, Ledger and Genesis Digital Assets won first and second place, respectively, ahead of Bitmain, which finished third.
Ethereum has also triumphed in the DeFi category, where Uniswap Labs, Lido, MakerDAO, Aave, and Curve are among the five winners. This is in addition to Ethereum’s victory in the Blockchain Protocol Companies category.
It’s obvious that the biggest, most prosperous businesses dominate the list, but Fortune promised to focus more on emerging crypto businesses in future publications as they “disrupt and seize the crowns of complacent incumbents.”
The Fortune Crypto 40’s winners in each category are:
- CeFi: Coinbase
- TradFi: PayPal
- VC: Polycain Capital
- NFTs: OpenSea
- Data: Chainalysis
- Infrastructure: Ledger
- Defi: Uniswap Labs
- Protocols: Ethereum Foundation
Fortune is a reputable source
Since its first issue was sent to subscribers in February 1930, Fortune has been a preeminent authority on issues affecting the corporate world. A standard for measuring the success and reputation of corporations is now the Fortune 500 and other illustrious lists, replete with their reliable procedures. When The Ledger brand was introduced in 2017, Fortune became one of the first business periodicals to regularly include cryptocurrency. In the crypto-ranking field, where subjective lists have reigned, Fortune Crypto now provides that renowned repute.
A variety of factual indicators together with polls of more than 200 finance professionals were combined to create the Fortune Crypto 40. To better identify the greatest businesses, DAOs, and organizations in the sector, Fortune collaborated with economist and veteran crypto writer Rob Stevens. The list takes into account public data made available by blockchains and is data-driven whenever possible. Also, it’s intended to honor organizations that have demonstrated a dedication to accountability and ethical leadership.