Despite the crypto winter, U.S.-based crypto exchange Coinbase has entered the Fortune 500 list for the first time.

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First published in 1955, the Fortune 500 is an annual listing of the top 500 largest corporations in America by total revenue, as well as other metrics, including profits, assets, market value, and employees.

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The exchange ranked 437th, with a recorded $7.8 billion in revenue, $3.6 billion in profit, and 3,730 employees globally in 2021. This makes Coinbase the first-ever company in the crypto and blockchain space to be featured on the list.
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The revenue threshold for the 2022 Fortune 500 list was $6.4 billion, up 19% from last year's limit, according to Fortune Media. 

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So far, 2022 hasn’t exactly been as great of a year for Coinbase, with the company posting net revenue of $1.16 billion and a net loss of $430 million for the first quarter.

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For the tenth year in a row, Walmart took the top spot on the list, generating $5.1 trillion in cumulative revenue over the year. At No. 2, Amazon saw a 22% jump in revenue, eclipsing the $450 billion mark. In the No. 3 spot, Apple was the most profitable company on the list for the seventh time in eight years, earning $95 billion in profits.

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