The legendary magazine “Fortune” has been publishing its issues since 1955.

The “Fortune 500” is a ranking of the largest US companies by total annual revenue generated.

In 2022, the first ever crypto and web 3 company was included in the “Fortune 500” list.

Coinbase Global included in the Fortune 500 list:

According to issue The new 2022 Fortune 500 rankings, Coinbase, which is the largest cryptocurrency ecosystem in the US, is ranked 437, making it the first Blockchain and Web3 company to join this elite club.

Along with pharmaceutical heavyweight Moderna, Coinbase is among the most successful new entrants to the Fortune 500 list in 2022.

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According to data shared in the latest ranking, Coinbase has total revenue of $7.8 billion and $3.6 billion in profit in 2021.

In fiscal year 2021, Coinbase recorded a profit increase of 1024% and an increase in revenue of 513% compared to the 2020 indicators.

The top five positions on the list have remained unchanged since 2021, represented by:

Walmart, Amazon, Apple, CVS Health, and United Health Group.

This exciting Coinbase announcement comes amid a dramatic slump in the COIN share price.

By May 24, 2022, Coinbase’s stock is trading at $66.10, or more than 80% off its all-time high.

Coinbase co-founder Fred Ehrsam took this opportunity to increase his holdings of COIN shares last week, as he acquired more than 1 million COIN shares worth more than $75 million, according to the SEC’s Form 4.

Mr. Ehrsam bought these shares through his venture capital company Paradigm.

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