Fortune Debuts First-of-its-Kind Ranking, The Fortune Crypto 40
Today, Fortune debuted the inaugural Fortune Crypto 40, which appears in the April/May 2023 issue of the magazine. This first-of-its-kind benchmark ranking identifies the top five players in eight categories in the crypto space, a recognition "that the industry, which was once defined by crypto trading, is now far broader," explains Fortune Crypto Editor Jeff John Roberts. "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."
Fortune has been a leading authority on what matters in the business world since its first issue was delivered to subscribers in February 1930. The Fortune 500™ and other iconic lists, complete with their robust methodologies, have become a benchmark of corporate performance and reputation. In 2017, Fortune became one of the first business publications to dedicate regular space to cryptocurrency with the launch of The Ledger franchise. Now, Fortune Crypto brings that venerated reputation to the crypto-ranking space, where subjective lists have dominated.
The Fortune Crypto 40 is the result of an array of empirical metrics, coupled with surveys of more than 200 financial executives conducted by Researchscape. Fortune partnered with economist and longtime crypto journalist Rob Stevens to develop a methodology that would best identify the industry's leading companies, DAOs, and nonprofits. The list is data-driven whenever possible, and considers public data offered by blockchains. It is also designed to reward entities that have displayed a commitment to transparency and good governance. Learn more about the methodology, categories, and criteria here.
The eight categories recognized by the Fortune Crypto 40 are: CeFi (centralized finance); TradFi (traditional finance); VC; NFTs; Data; Infrastructure; DeFi (decentralized finance); and Protocols. This division allows for better comparisons among similar entities, such as venture capital firms and centralized crypto companies.
The winners of each category of the Fortune Crypto 40 are:
- CeFi: Coinbase
- TradFi: PayPal
- VC: Polycain Capital
- NFTs: OpenSea
- Data: Chainalysis
- Infrastructure: Ledger
- DeFi: Uniswap Labs
- Protocols: Ethereum Foundation
View the complete Fortune Crypto 40 here.
Also in the April/May 2023 issue of Fortune:
"How Binance really operates" by Shawn Tully: The world's largest crypto exchange boasts vast profits, hefty influencer payouts, and a ticking time bomb on its balance sheet.
"How the music industry fell in love with the NFT" by Jeff John Roberts: The NFT market has cooled off from its manic highs of early 2022. But Justin "3lau" Blau and Steve Aoki believe that the blockchain-based tokens can help artists of all kinds build enduring relationships with their fans—and turn music lovers into music investors.
"The making of Changpeng 'CZ' Zhao" by Jeff John Roberts
The April/May 2023 issue of Fortune will be on newsstands on April 25, 2023.